Autohome on Dec. 24 announced that it will hold an extraordinary general meeting of shareholders in Beijing, China on Feb. 2, 2021. ATHM shares were down 3% at the close on Thursday.
Autohome (ATHM) ordinary shareholders of record at the close of business on Dec. 28, 2020 are entitled to notice of, and to vote at, the extraordinary general meeting or any adjournment or postponement.
The holders of the American depositary shares (ADSs) who wish to exercise their voting rights for the underlying ordinary shares need to act through the depositary of the company’s ADS program, Deutsche Bank Trust Company Americas.
On Nov. 30, ATHM reported that its Q3 net revenue rose by 12% to $341.0 million, beating the Street’s estimates by $7.28 million. The company posted EPS of $1.04, surpassing analyst estimates by $0.13. (See ATHM stock analysis on TipRanks)
In reaction to the company’s better-than-expected Q3 results, Macquarie analyst Frank Chen raised the price target from $90 to $95 and reiterated a Hold rating.
The online destination for auto consumers in China expects to generate net revenues of between $364.5 million and $365.9 million in Q4.
The Q4 guidance came in below expectations and less than the underlying auto industry growth, noted Chen. The analyst consensus stood at $374.81 million.
The revised price target reflected currency, said Chen, as he saw limited upside from Autohome’s new floating pricing models.
From the rest of the Street, the stock scores a cautiously optimistic analyst consensus of a Moderate Buy based on 5 Buys and 3 Holds. The average analyst price target of $102.23 implies an upside potential of almost 7.5% to current levels. The share price has already gained 19% year-to-date.
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