Citigroup Issues Pessimistic Forecast for KE (NYSE:BEKE) Stock Price

KE (NYSE:BEKE) had its price target lowered by equities research analysts at Citigroup from $25.80 to $24.80 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 28.89% from the stock’s previous close.

A number of other equities analysts have also issued reports on BEKE. UBS Group upgraded KE from a “neutral” rating to a “buy” rating and raised their target price for the stock from $22.10 to $23.00 in a research note on Friday. Jefferies Financial Group restated a “buy” rating on shares of KE in a research note on Tuesday, March 18th. Finally, Morgan Stanley lifted their price target on KE from $19.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $27.16.

KE Stock Up 0.4%

BEKE stock opened at $19.24 on Friday. The stock has a market capitalization of $23.25 billion, a PE ratio of 39.27, a price-to-earnings-growth ratio of 3.45 and a beta of -0.73. KE has a 52 week low of $12.92 and a 52 week high of $26.05. The firm has a 50 day moving average of $20.32 and a 200 day moving average of $19.73.

Hedge Funds Weigh In On KE

Several hedge funds and other institutional investors have recently made changes to their positions in BEKE. First Affirmative Financial Network raised its holdings in KE by 4.2% in the 1st quarter. First Affirmative Financial Network now owns 14,887 shares of the company’s stock valued at $299,000 after acquiring an additional 599 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of KE by 5.1% during the fourth quarter. QRG Capital Management Inc. now owns 14,395 shares of the company’s stock worth $265,000 after buying an additional 703 shares during the period. PNC Financial Services Group Inc. boosted its holdings in KE by 8.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,379 shares of the company’s stock valued at $173,000 after acquiring an additional 762 shares during the period. Rakuten Securities Inc. grew its holdings in shares of KE by 42.3% in the fourth quarter. Rakuten Securities Inc. now owns 4,762 shares of the company’s stock valued at $88,000 after purchasing an additional 1,416 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of KE in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 39.34% of the company’s stock.

KE Company Profile

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.