QuantaSing Group (NASDAQ:QSG) Rating Increased to Buy at Wall Street Zen

Key Points

• QuantaSing Group (NASDAQ:QSG) has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating growing confidence among analysts.
• Despite a recent stock decline of 0.9%, QuantaSing Group reported strong quarterly earnings of $0.27 per share, surpassing estimates of $0.15.
• The company has a current average price target of $9.52 per share and a market capitalization of approximately $391.76 million.

QuantaSing Group (NASDAQ:QSG - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a "hold (c)" rating on shares of QuantaSing Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $9.52.

QuantaSing Group Stock Down 0.9%

QSG stock opened at $7.65 on Friday. QuantaSing Group has a twelve month low of $1.60 and a twelve month high of $15.64. The stock's 50 day moving average is $8.41 and its 200-day moving average is $7.97. The firm has a market capitalization of $391.76 million, a PE ratio of 8.50 and a beta of -0.95.

QuantaSing Group (NASDAQ:QSG - Get Free Report) last posted its earnings results on Wednesday, September 17th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.12. QuantaSing Group had a return on equity of 47.31% and a net margin of 13.13%.The company had revenue of $86.25 million for the quarter. On average, equities research analysts anticipate that QuantaSing Group will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of QSG. EverSource Wealth Advisors LLC bought a new stake in shares of QuantaSing Group in the second quarter valued at $62,000. Tower Research Capital LLC TRC bought a new stake in shares of QuantaSing Group in the second quarter valued at $93,000. NewEdge Advisors LLC raised its stake in shares of QuantaSing Group by 17.4% in the first quarter. NewEdge Advisors LLC now owns 29,636 shares of the company's stock valued at $119,000 after buying an additional 4,394 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of QuantaSing Group in the second quarter valued at $160,000. Finally, Nomura Holdings Inc. bought a new stake in shares of QuantaSing Group in the second quarter valued at $180,000.

About QuantaSing Group

QuantaSing Group Limited provides online learning services in the People's Republic of China. The company offers online courses, including financial literacy, short-video production, personal well-being, electronic keyboard, and meditation courses. It also offers marketing and enterprise talent management services to enterprise customers.

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