Goldman Sachs Group Begins Coverage on GSX Techedu (NYSE:GSX)

Goldman Sachs Group assumed coverage on shares of GSX Techedu (NYSE:GSX) in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $45.00 price target on the stock.

GSX has been the topic of several other reports. ValuEngine lowered GSX Techedu from a buy rating to a hold rating in a research report on Tuesday, November 19th. Zacks Investment Research lowered GSX Techedu from a buy rating to a hold rating in a research report on Wednesday, January 8th. UBS Group began coverage on GSX Techedu in a research report on Thursday, January 16th. They issued a buy rating and a $40.00 price target on the stock. Bank of America began coverage on GSX Techedu in a research report on Wednesday, October 9th. They issued a buy rating and a $22.00 price target on the stock. Finally, Barclays restated a buy rating and issued a $20.00 price target on shares of GSX Techedu in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $28.80.

Shares of NYSE GSX traded down $1.06 during midday trading on Tuesday, hitting $31.67. The stock had a trading volume of 63,582 shares, compared to its average volume of 2,044,739. The company’s 50-day simple moving average is $24.08 and its 200 day simple moving average is $16.53. GSX Techedu has a fifty-two week low of $8.53 and a fifty-two week high of $36.29. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.10.

GSX Techedu (NYSE:GSX) last released its earnings results on Tuesday, November 5th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.08). The firm had revenue of $557.00 million during the quarter, compared to the consensus estimate of $485.07 million. The firm’s revenue was up 461.5% compared to the same quarter last year. On average, equities research analysts forecast that GSX Techedu will post 0.16 EPS for the current year.

Large investors have recently bought and sold shares of the company. Bank of America Corp DE bought a new position in shares of GSX Techedu in the 2nd quarter worth $39,540,000. State of New Jersey Common Pension Fund D bought a new position in shares of GSX Techedu in the 3rd quarter worth $1,218,000. Exane Derivatives bought a new position in shares of GSX Techedu in the 4th quarter worth $517,000. Price T Rowe Associates Inc. MD bought a new position in shares of GSX Techedu in the 2nd quarter worth $45,026,000. Finally, Barclays PLC bought a new position in GSX Techedu during the third quarter worth about $73,000. Institutional investors and hedge funds own 9.94% of the company’s stock.

About GSX Techedu

GSX Techedu Inc operates as an online education company in the People's Republic of China. The company provides online K-12 large-class after-school tutoring services. It offers English courses for children in kindergarten; and courses that help children in grade one through grade seven. The company also provides foreign language courses, including English, Japanese, and Korean, as well as English test preparation courses for students taking post-graduate entrance exams in China; and professional courses primarily for working adults preparing for professional qualification exams comprising teacher's qualification, the Chartered Financial Analyst designation, fund qualification, and securities qualification exams.

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