KE (NYSE:BEKE) Price Target Raised to $24.00

KE (NYSE:BEKE) had its price target lifted by equities research analysts at Bank of America from $21.00 to $24.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 11.63% from the company’s current price.

Separately, Citigroup assumed coverage on shares of KE in a research report on Tuesday, September 10th. They set a “buy” rating and a $23.80 price objective for the company. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, KE presently has a consensus rating of “Moderate Buy” and an average target price of $24.90.

KE Stock Down 3.4 %

Shares of BEKE stock traded down $0.76 on Wednesday, reaching $21.50. The company had a trading volume of 11,887,027 shares, compared to its average volume of 9,239,842. The stock has a market capitalization of $26.51 billion, a PE ratio of 52.39, a price-to-earnings-growth ratio of 3.40 and a beta of -0.71. The business’s 50-day moving average is $15.98 and its 200 day moving average is $15.56. KE has a one year low of $12.44 and a one year high of $26.05.

KE (NYSE:BEKE) last announced its quarterly earnings results on Monday, August 12th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $2.06. KE had a net margin of 5.32% and a return on equity of 6.74%. The company had revenue of $23.37 billion during the quarter, compared to the consensus estimate of $21.51 billion. During the same period in the prior year, the business earned $0.17 earnings per share. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, sell-side analysts forecast that KE will post 0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BEKE. Blue Trust Inc. boosted its position in shares of KE by 2,662.2% during the 2nd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 3,168 shares in the last quarter. Barometer Capital Management Inc. acquired a new stake in shares of KE in the 4th quarter worth about $123,000. Signaturefd LLC lifted its position in KE by 12.5% in the 2nd quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock valued at $110,000 after acquiring an additional 866 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in KE during the 2nd quarter valued at about $146,000. Finally, QRG Capital Management Inc. increased its holdings in KE by 11.3% during the 1st quarter. QRG Capital Management Inc. now owns 13,357 shares of the company’s stock worth $183,000 after purchasing an additional 1,360 shares in the last quarter. 39.34% of the stock is owned by institutional investors.

About KE

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.