KE Holdings Inc. Sponsored ADR (NYSE:BEKE) Stock Has Average Price Target of $23.64 According to Analysts

Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) have earned a consensus rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $23.64.

A number of equities analysts have issued reports on BEKE shares. Morgan Stanley reaffirmed an “overweight” rating on shares of KE in a research note on Friday, August 21st. CLSA started coverage on KE in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $23.80 price objective on the stock. Wall Street Zen upgraded KE from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KE in a research note on Monday, September 21st. Finally, Zacks Research upgraded shares of KE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 26th.

KE Stock Down 1.2%

BEKE stock opened at $16.45 on Friday. The firm’s 50-day moving average is $17.04 and its two-hundred day moving average is $16.51. The company has a market capitalization of $18.40 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 0.53 and a beta of -0.26. KE has a 52 week low of $13.81 and a 52 week high of $19.88. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.01.

KE (NYSE:BEKE) last posted its quarterly earnings data on Friday, August 21st. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.11. KE had a net margin of 5.38% and a return on equity of 7.62%. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.59 billion. On average, analysts forecast that KE will post 1.03 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Yongdong Peng sold 16,033,983 shares of KE stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $5.27, for a total value of $84,499,090.41. Following the transaction, the chief executive officer owned 62,824,251 shares of the company’s stock, valued at $331,083,802.77. The trade was a 20.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Yigang Shan sold 3,326,670 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $5.44, for a total transaction of $18,097,084.80. Following the completion of the sale, the director owned 53,868,189 shares in the company, valued at $293,042,948.16. The trade was a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On KE

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quantinno Capital Management LP increased its stake in KE by 86.7% in the 1st quarter. Quantinno Capital Management LP now owns 127,216 shares of the company’s stock worth $1,904,000 after purchasing an additional 59,079 shares in the last quarter. Perseverance Asset Management International lifted its stake in KE by 20.4% during the first quarter. Perseverance Asset Management International now owns 1,391,439 shares of the company’s stock valued at $20,830,000 after buying an additional 236,000 shares in the last quarter. Wellington Management Group LLP lifted its stake in KE by 16.0% during the second quarter. Wellington Management Group LLP now owns 8,915,061 shares of the company’s stock valued at $129,536,000 after buying an additional 1,231,445 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of KE by 5.8% in the second quarter. Baird Financial Group Inc. now owns 5,942,507 shares of the company’s stock worth $86,345,000 after buying an additional 324,707 shares during the period. Finally, Carrhae Capital LLP acquired a new position in shares of KE in the second quarter worth about $10,138,000. Institutional investors and hedge funds own 39.34% of the company’s stock.

About KE

KE Holdings Inc (NYSE: BEKE) is a technology-driven platform serving China’s housing and property-services markets. The company operates the Beike platform, which connects consumers with housing agents, brokers, landlords, developers and other service providers.

Its business includes existing-home and new-home transactions, property rentals, and related services. KE Holdings also provides home renovation and furnishing services, as well as technology and data tools designed to support real estate agents, brokerage stores and property developers.

The company traces its roots to Lianjia, a Chinese real estate brokerage founded in 2001, and launched the Beike platform in 2018.