Oppenheimer Thinks BlueCity Holdings’ Stock is Going to Recover

Oppenheimer analyst Bo Pei CFA maintained a Buy rating on BlueCity Holdings (BLCT) today and set a price target of $20.00. The company’s shares closed last Tuesday at $11.05, close to its 52-week low of $8.04.

According to TipRanks.com, CFA is a 3-star analyst with an average return of 7.8% and a 38.5% success rate. CFA covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, Yalla Group, and Iqiyi.

BlueCity Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $20.00.

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Based on BlueCity Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $298 million and GAAP net loss of $138 million. In comparison, last year the company earned revenue of $202 million and had a GAAP net loss of $7.08 million.

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BlueCity Holdings Ltd is an internet company. It offers Blued mobile app; Danlan Public Interest which provides public health services; He Health is a health service platform focused on men’s health by providing online health services; Bluedbaby is personalized family planning services platform. The company generates revenues from live streaming, advertising, membership and other services. The company geographically operates through China market.

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