In a report released today, Vincent Yu from Needham assigned a Buy rating to Viomi Technology Co (VIOT), with a price target of $12.50. The company’s shares closed last Friday at $5.64.
According to TipRanks.com, Yu is a 4-star analyst with an average return of 8.6% and a 58.6% 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 $9.40.
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Based on Viomi Technology Co’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $766 million and net profit of $17.98 million. In comparison, last year the company earned revenue of $676 million and had a net profit of $41.19 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.
