REDU rising higher after an analyst offered a bullish outlook.
Since the coronavirus was first reported in China, RISE Education was impacted in the first quarter, with new-student enrollment plummeting. But enrollment was recovering quickly in the second quarter, up 149% quarter over quarter.
Now that the company has reported Q2 results, a Morgan Stanley analyst raised the price target for RISE stock to $6 per share.
While RISE Education is recovering from Q1, it still has a long way to go. In Q2, revenue was down 55% year over year, and new student enrollment was down 39%. Furthermore, growth was challenged even before COVID-19. For example, new student enrollment was only up 12% from 2018 to 2019.
www.fool.com/investi...-soared-higher-on-t/
Since the coronavirus was first reported in China, RISE Education was impacted in the first quarter, with new-student enrollment plummeting. But enrollment was recovering quickly in the second quarter, up 149% quarter over quarter.
Now that the company has reported Q2 results, a Morgan Stanley analyst raised the price target for RISE stock to $6 per share.
While RISE Education is recovering from Q1, it still has a long way to go. In Q2, revenue was down 55% year over year, and new student enrollment was down 39%. Furthermore, growth was challenged even before COVID-19. For example, new student enrollment was only up 12% from 2018 to 2019.
www.fool.com/investi...-soared-higher-on-t/