Needham Sticks to Its Buy Rating for Viomi Technology Co (VIOT)

Stock Market

In a report released today, Vincent Yu from Needham maintained a Buy rating on Viomi Technology Co (VIOTResearch Report), with a price target of $9.50. The company’s shares closed last Friday at $2.91, close to its 52-week low of $2.88.

According to TipRanks.com, Yu has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -13.1% and a 22.5% success rate. Yu covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, China Online Education Group, and So-Young International.

Viomi Technology Co has an analyst consensus of Moderate Buy, with a price target consensus of $9.50.

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Based on Viomi Technology Co’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.06 billion and GAAP net loss of $29.26 million. In comparison, last year the company earned revenue of $1.49 billion and had a net profit of $34.92 million.

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Viomi Technology Co. Ltd. is a holding company, which engages in the operation of developing and selling Internet-of-things-enabled smart home products. It offers oven steamer, range hood, refrigerator, water purifier, and washing machine. The company was founded by Chen Xiao Ping in May 2014 and is headquartered in Guangzhou, China.

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