KE (NYSE:BEKE) PT Raised to $24.00 at Bank of America

KE (NYSE:BEKE) had its price target boosted by stock analysts at Bank of America from $21.00 to $24.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential upside of 11.32% from the company’s previous close.

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

KE Stock Performance

BEKE stock opened at $21.56 on Wednesday. The stock has a market capitalization of $26.59 billion, a price-to-earnings ratio of 52.59, a PEG ratio of 3.40 and a beta of -0.71. KE has a 1 year low of $12.44 and a 1 year high of $26.05. The stock’s fifty day moving average is $16.30 and its two-hundred day moving average is $15.64.

KE (NYSE:BEKE) last issued its quarterly earnings results on Monday, August 12th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $2.06. The company had revenue of $23.37 billion for the quarter, compared to analyst estimates of $21.51 billion. KE had a return on equity of 6.74% and a net margin of 5.32%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. As a group, analysts predict that KE will post 0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On KE

Several institutional investors have recently made changes to their positions in BEKE. M&G Plc acquired a new position in shares of KE during the first quarter worth approximately $135,880,000. RWC Asset Advisors US LLC acquired a new position in KE in the second quarter valued at about $70,807,000. Price T Rowe Associates Inc. MD lifted its stake in KE by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 38,363,638 shares of the company’s stock valued at $526,734,000 after buying an additional 4,736,152 shares during the period. Coatue Management LLC raised its position in shares of KE by 169.7% during the fourth quarter. Coatue Management LLC now owns 5,015,918 shares of the company’s stock worth $81,308,000 after purchasing an additional 3,155,995 shares during the period. Finally, ANTIPODES PARTNERS Ltd raised its position in shares of KE by 180.3% during the second quarter. ANTIPODES PARTNERS Ltd now owns 4,188,521 shares of the company’s stock worth $59,268,000 after purchasing an additional 2,694,260 shares during the period. 39.34% of the stock is currently owned by institutional investors and hedge funds.

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.