Macquarie Reiterates “Outperform” Rating for Cheetah Mobile Inc (CMCM)
Cheetah Mobile Inc (NASDAQ:CMCM)‘s stock had its “outperform” rating reaffirmed by analysts at Macquarie in a research report issued to clients and investors on Thursday. They currently have a $32.00 price target on the stock, up from their previous price target of $24.00. Macquarie’s price objective would suggest a potential upside of 19.45% from the stock’s previous close.
CMCM has been the subject of a number of other recent research reports. Analysts at Oppenheimer raised their price target on shares of Cheetah Mobile Inc from $23.00 to $30.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of Cheetah Mobile Inc in a research note on Thursday, July 24th. They set a “buy” rating on the stock.
Cheetah Mobile Inc (NASDAQ:CMCM) traded down 3.08% during mid-day trading on Thursday, hitting $25.965. The stock had a trading volume of 344,887 shares. Cheetah Mobile Inc has a 52-week low of $12.50 and a 52-week high of $30.37. The stock has a 50-day moving average of $21.8 and a 200-day moving average of $19.87. The company has a market cap of $2.433 billion and a price-to-earnings ratio of 362.03.
Cheetah Mobile Inc (NASDAQ:CMCM) last released its earnings data on Tuesday, August 19th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.51. The company had revenue of $380.30 million for the quarter, compared to the consensus estimate of $158.90 million. The company’s revenue for the quarter was up 139.3% on a year-over-year basis. On average, analysts predict that Cheetah Mobile Inc will post $0.24 earnings per share for the current fiscal year.
Cheetah Mobile Inc, formerly Kingsoft Internet Software Holdings Limited, is a holding company. The Company is a wholly owned subsidiary of Kingsoft Corporation Limited.
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