U.S. markets closed
  • S&P Futures

    4,109.50
    -13.50 (-0.33%)
     
  • Dow Futures

    33,891.00
    -105.00 (-0.31%)
     
  • Nasdaq Futures

    13,170.00
    -42.00 (-0.32%)
     
  • Russell 2000 Futures

    2,200.60
    -7.30 (-0.33%)
     
  • Crude Oil

    64.72
    -0.77 (-1.18%)
     
  • Gold

    1,865.70
    -2.30 (-0.12%)
     
  • Silver

    28.45
    +0.14 (+0.50%)
     
  • EUR/USD

    1.2223
    -0.0003 (-0.02%)
     
  • 10-Yr Bond

    1.6420
    +0.0020 (+0.12%)
     
  • Vix

    21.34
    +1.62 (+8.22%)
     
  • GBP/USD

    1.4182
    -0.0005 (-0.03%)
     
  • USD/JPY

    108.9900
    +0.1000 (+0.09%)
     
  • BTC-USD

    40,804.20
    -3,833.49 (-8.59%)
     
  • CMC Crypto 200

    1,142.39
    -110.75 (-8.84%)
     
  • FTSE 100

    7,034.24
    +1.39 (+0.02%)
     
  • Nikkei 225

    28,050.07
    -356.77 (-1.26%)
     

NIU Tops Consensus Estimates; Street Says Buy

  • Oops!
    Something went wrong.
    Please try again later.
support@smarteranalyst.com (Ben Mahaney)
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

Shares of Niu Technologies fell 5% in early trade on Monday despite the e-scooter manufacturer reporting Q4 and full-year 2020 financial results that beat analysts’ estimates.

Niu (NIU) reported better-than-expected fourth quarter results driven by a 42% year-on-year increase in e-scooter sales. Revenue of $103 million grew 25% compared to a year ago, beating analysts’ forecasts of $95 million.

Earnings of $0.11 per shares beat consensus estimates of $0.09 but fell slightly from Q4 2019 earnings of $0.12. Gross margins fell to 25.2% compared to 26.1% a year ago as sales of cheaper products saw average revenue per e-scooter fall 11.5% year-on-year.

Meanwhile, full year revenues grew almost 18% year-on-year accompanied with an equivalent drop in revenue per e-scooter.

Commenting on the international business, CEO, Dr. Yan Li, said, “Our international markets sales volume increased by 197% year over year. We are very pleased to see the strong sales growth in the international markets despite the rebound of COVID-19.” (See Niu Technologies stock analysis on TipRanks)

Daiwa analyst Andrew Chung initiated a Buy rating on NIU last week and set his price target at $41.50. This implies upside potential of around 24% from current levels.

Chung referred to NIU as “a premium brand for micro-mobility solutions” and sees the company becoming “a leading e-bike brand in the future.” He expects the company to grow revenue and market share in key markets including the US and Europe.

Consensus among Wall Street analysts is a Strong Buy based on 3 unanimous Buy recommendations. The average analyst price target of $45.17 suggests upside potential of around 42% over the next 12 months.

Related News:
Henry Schein Reinstates Share Buyback Plan; Street Sees 30% Upside
Disney To Reopen California Theme Parks
Coherent Determines Revised Buyout Offer From II-VI To Be Financially Best Fit

More recent articles from Smarter Analyst: