KE (NYSE:BEKE) Upgraded to “Buy” by HSBC

HSBC upgraded shares of KE (NYSE:BEKEGet Rating) from a hold rating to a buy rating in a research report report published on Thursday, Marketbeat.com reports. They currently have $20.80 target price on the stock, up from their prior target price of $13.70.

A number of other research firms have also weighed in on BEKE. Morgan Stanley upgraded KE from an equal weight rating to an overweight rating and decreased their price target for the company from $23.00 to $16.00 in a research report on Wednesday, March 16th. Citigroup assumed coverage on KE in a research report on Tuesday. They issued a buy rating and a $22.50 price target for the company. UBS Group upgraded KE from a neutral rating to a buy rating in a research report on Monday, April 18th. JPMorgan Chase & Co. upgraded KE from an underweight rating to a neutral rating and raised their price objective for the stock from $7.50 to $13.50 in a research report on Monday, May 16th. Finally, Barclays decreased their price objective on KE from $29.00 to $24.00 and set an overweight rating for the company in a research report on Friday, March 11th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $20.83.

NYSE:BEKE opened at $17.48 on Thursday. KE has a 52-week low of $7.31 and a 52-week high of $52.55. The business’s 50-day moving average price is $13.53 and its 200 day moving average price is $16.36.

KE (NYSE:BEKEGet Rating) last released its quarterly earnings results on Tuesday, May 31st. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.11. KE had a negative return on equity of 3.26% and a negative net margin of 3.05%. The business had revenue of $12.55 billion during the quarter, compared to analyst estimates of $11.90 billion. During the same quarter last year, the company posted $0.13 EPS. KE’s revenue for the quarter was down 39.4% on a year-over-year basis. Sell-side analysts anticipate that KE will post -0.23 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Pinebridge Investments L.P. acquired a new stake in shares of KE during the 4th quarter valued at about $28,000. Daiwa Securities Group Inc. acquired a new stake in shares of KE during the 4th quarter valued at about $88,000. ETF Managers Group LLC acquired a new stake in shares of KE during the 4th quarter valued at about $118,000. QCM Cayman Ltd. acquired a new stake in shares of KE during the 1st quarter valued at about $132,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of KE during the 1st quarter valued at about $136,000. Institutional investors and hedge funds own 35.00% of the company’s stock.

KE Company Profile (Get Rating)

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. The company operates in three segments: Existing Home Transaction Services, New Home Transaction Services, and Emerging and Other Services.

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