Youku Tudou Inc Sees Strong Trading Volume Following Better-Than-Expected Earnings (YOKU)
Youku Tudou Inc (NASDAQ:YOKU) saw unusually-high trading volume on Wednesday following a better than expected earnings announcement, Analyst Ratings News reports. Approximately 7,362,035 shares were traded during mid-day trading, an increase of 103% from the previous session’s volume of 3,624,118 shares.The stock last traded at $19.89 and had previously closed at $21.52.
The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.27. The company had revenue of $154.54 million for the quarter. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was up 27.0% on a year-over-year basis.
A number of research firms have recently commented on YOKU. Analysts at Goldman Sachs cut their price target on shares of Youku Tudou Inc to $21.00 in a research note on Wednesday. Separately, analysts at Brean Capital cut their price target on shares of Youku Tudou Inc from $27.00 to $24.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at T.H. Capital initiated coverage on shares of Youku Tudou Inc in a research note on Monday. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $25.33.
The stock has a 50-day moving average of $20.79 and a 200-day moving average of $24.3. The company’s market cap is $3.334 billion.
Youku Tudou Inc (NASDAQ:YOKU), formerly Youku Inc, is an Internet television company in the People’s Republic of China.
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