Shares of CooTek (Cayman) Inc. (NYSE:CTK) have earned a consensus broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company.
Analysts have set a 12-month consensus target price of $12.00 for the company and are expecting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also assigned CooTek (Cayman) an industry rank of 74 out of 256 based on the ratings given to its competitors.
Several analysts have commented on CTK shares. Citigroup lowered shares of CooTek (Cayman) from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. KeyCorp set a $14.00 price target on shares of CooTek (Cayman) and gave the company a “buy” rating in a research report on Thursday, March 7th. Zacks Investment Research raised shares of CooTek (Cayman) from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, Credit Suisse Group lowered shares of CooTek (Cayman) from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 4th.
CooTek (Cayman) (NYSE:CTK) last released its quarterly earnings results on Monday, June 3rd. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The firm had revenue of $40.04 million for the quarter, compared to analysts’ expectations of $40.10 million. As a group, research analysts forecast that CooTek will post 0.26 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in CTK. Morgan Stanley purchased a new position in shares of CooTek (Cayman) in the 3rd quarter valued at approximately $2,549,000. Bank of America Corp DE purchased a new position in shares of CooTek (Cayman) in the 4th quarter valued at approximately $179,000. BlackRock Inc. purchased a new position in shares of CooTek (Cayman) in the 4th quarter valued at approximately $61,000. Finally, Advisor Group Inc. purchased a new position in shares of CooTek (Cayman) in the 1st quarter valued at approximately $73,000. 1.69% of the stock is owned by hedge funds and other institutional investors.
About CooTek (Cayman)
CooTek (Cayman) Inc operates as an AI and big data-driven mobile Internet company. Its primary product is TouchPal Smart Input, an input method for mobile devices that supports approximately 110 languages worldwide. The company was founded in 2008 and is based in Shanghai, the People's Republic of China.
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