Analysts Remain Bullish On Gridsum Holding
Gridsum Holding Inc – ADR (NASDAQ: GSUM), a sophisticated data analysis software provider, is trading more than 15 percent from the IPO price consistently.
The China-based company came out with an IPO of 6.7 million shares at a price of $13.00 a share in September. The stock opened with a gain of 17 percent on September 23 and traded between $15.25 and $18.29 representing a gain between 17.3 percent and 26.3 percent.
Gridsum Holding has been reviewed by three brokerage houses and they all rated the stock a Buy, pointing out that the company is riding the wave of digital intelligence. The company is an early mover as far as big data analysis in China is concerned.
The current brokerages' price target suggests that the stock still offers about 20 percent upside potentials from the current levels.
The following brokerages have rated Gridsum Holding a Buy:
- Citigroup, with a price objective of $21.
- Goldman Sachs Group, with a target price of $20.60.
- Stifel Nicolaus, with a price tag of $21.
At last check, the stock was down 0.79 percent at $16.29.
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Latest Ratings for GSUM
|Oct 2016||Stifel Nicolaus||Initiates Coverage On||Buy|
|Oct 2016||Citigroup||Initiates Coverage On||Buy|
|Oct 2016||Goldman Sachs||Initiates Coverage On||Buy|
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