Cheetah Mobile Inc (CMCM) Shares Down 0.8%
Cheetah Mobile Inc (NASDAQ:CMCM) dropped 0.8% on Tuesday . The stock traded as low as $8.50 and last traded at $8.58. Approximately 676,319 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 835,878 shares. The stock had previously closed at $8.51.
CMCM has been the topic of several analyst reports. Zacks Investment Research upgraded Cheetah Mobile from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Monday, May 29th. BidaskClub upgraded Cheetah Mobile from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Nomura upped their price objective on Cheetah Mobile from $11.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, August 23rd. Finally, Instinet reiterated a “neutral” rating and issued a $12.00 price objective (up from $11.50) on shares of Cheetah Mobile in a research note on Wednesday, August 23rd. Three investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.00.
Cheetah Mobile (NASDAQ:CMCM) last posted its earnings results on Tuesday, August 22nd. The software maker reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Cheetah Mobile had a net margin of 6.11% and a return on equity of 8.91%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.44) earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the business. FIL Ltd grew its stake in shares of Cheetah Mobile by 854.2% during the first quarter. FIL Ltd now owns 992,921 shares of the software maker’s stock worth $10,664,000 after buying an additional 888,861 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cheetah Mobile by 178.4% during the first quarter. Dimensional Fund Advisors LP now owns 309,979 shares of the software maker’s stock worth $3,327,000 after buying an additional 198,644 shares during the last quarter. KCG Holdings Inc. bought a new stake in shares of Cheetah Mobile during the first quarter worth $657,000. World Asset Management Inc bought a new stake in shares of Cheetah Mobile during the second quarter worth $261,000. Finally, Schroder Investment Management Group grew its stake in shares of Cheetah Mobile by 115.6% during the first quarter. Schroder Investment Management Group now owns 68,866 shares of the software maker’s stock worth $716,000 after buying an additional 36,923 shares during the last quarter.
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Cheetah Mobile Company Profile
Cheetah Mobile Inc is a holding company. The Company and its consolidated subsidiaries, variable interest entities (VIEs) and a VIE’s subsidiary are engaged in the provision of online marketing services, Internet value-added services, and Internet security services and others. The Company operates a platform that offers mobile and personal computer (PC) applications for its users and global content promotional channels for its customers, both of which are powered by its cloud-based data analytics engines.
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