Citigroup Forecasts Strong Price Appreciation for Full Truck Alliance (NYSE:YMM) Stock

Full Truck Alliance (NYSE:YMM) had its price objective hoisted by research analysts at Citigroup from $12.00 to $13.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 38.74% from the stock’s previous close.

Separately, Barclays lowered their target price on Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $10.00.

Full Truck Alliance Stock Performance

YMM opened at $9.37 on Thursday. The firm’s fifty day moving average is $8.86 and its two-hundred day moving average is $8.37. The firm has a market cap of $9.87 billion, a PE ratio of 22.31 and a beta of 0.23. Full Truck Alliance has a twelve month low of $5.70 and a twelve month high of $10.29.

Full Truck Alliance (NYSE:YMM) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. Full Truck Alliance had a return on equity of 7.88% and a net margin of 26.80%. The business had revenue of $380.38 million for the quarter, compared to the consensus estimate of $369.24 million. Equities analysts forecast that Full Truck Alliance will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Tobam bought a new position in Full Truck Alliance during the second quarter worth about $35,000. Blue Trust Inc. bought a new stake in shares of Full Truck Alliance in the second quarter valued at approximately $38,000. Atomi Financial Group Inc. boosted its stake in shares of Full Truck Alliance by 12.4% in the second quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock valued at $97,000 after buying an additional 1,329 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Full Truck Alliance by 34.0% in the first quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock valued at $98,000 after buying an additional 3,421 shares during the period. Finally, Aigen Investment Management LP bought a new position in Full Truck Alliance during the 3rd quarter worth $151,000. 39.02% of the stock is owned by institutional investors.

About Full Truck Alliance

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.