Hesai Group (NASDAQ:HSAI) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• The Goldman Sachs Group has raised Hesai Group's price target from $26.30 to $36.00, indicating a potential upside of 23.92% based on the stock's previous close.
• Hesai Group's recent earnings report showed an EPS of $0.04, missing estimates of $0.76, with revenue of $98.61 million compared to expectations of $846.98 million.
• Currently, the stock has an average rating of "Buy" from analysts, with a consensus price target of $32.26.

Hesai Group (NASDAQ:HSAI - Get Free Report) had its price target raised by investment analysts at The Goldman Sachs Group from $26.30 to $36.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 23.92% from the company's previous close.

Other equities analysts have also issued reports about the stock. UBS Group began coverage on shares of Hesai Group in a research report on Tuesday, August 19th. They issued a "buy" rating and a $35.00 price objective for the company. Jefferies Financial Group began coverage on shares of Hesai Group in a research report on Monday, June 9th. They issued a "buy" rating and a $29.30 price objective for the company. Finally, Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $23.00 to $26.00 in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $32.26.

Hesai Group Stock Down 2.0%

Hesai Group stock opened at $29.05 on Monday. Hesai Group has a 1-year low of $3.91 and a 1-year high of $30.44. The business has a fifty day moving average price of $24.24 and a 200-day moving average price of $20.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 322.78 and a beta of 1.13.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The business had revenue of $98.61 million during the quarter, compared to analysts' expectations of $846.98 million. Equities research analysts forecast that Hesai Group will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in shares of Hesai Group during the 2nd quarter valued at approximately $33,000. SBI Securities Co. Ltd. grew its stake in Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after acquiring an additional 1,249 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new stake in Hesai Group in the 1st quarter valued at $42,000. Daiwa Securities Group Inc. acquired a new stake in Hesai Group in the 2nd quarter valued at $108,000. Finally, Federated Hermes Inc. acquired a new stake in Hesai Group in the 2nd quarter valued at $156,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Company Profile

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.

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