Morgan Stanley Issues Positive Forecast for KE (NYSE:BEKE) Stock Price

KE (NYSE:BEKE) had its target price upped by investment analysts at Morgan Stanley from $19.00 to $27.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 21.28% from the stock’s previous close.

Separately, Barclays boosted their target price on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, November 25th.

KE Price Performance

BEKE stock traded down $1.01 during trading on Wednesday, hitting $22.26. 9,406,324 shares of the company traded hands, compared to its average volume of 9,223,834. KE has a 1 year low of $12.49 and a 1 year high of $26.05. The company has a market cap of $26.90 billion, a PE ratio of 45.44, a P/E/G ratio of 3.45 and a beta of -0.82. The stock’s 50-day simple moving average is $19.68 and its 200 day simple moving average is $19.38.

Hedge Funds Weigh In On KE

Hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of KE during the 3rd quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in KE in the 4th quarter valued at $30,000. Principal Securities Inc. increased its holdings in KE by 411.9% in the 4th quarter. Principal Securities Inc. now owns 2,068 shares of the company’s stock worth $38,000 after acquiring an additional 1,664 shares in the last quarter. Rakuten Securities Inc. raised its position in KE by 42.3% during the fourth quarter. Rakuten Securities Inc. now owns 4,762 shares of the company’s stock worth $88,000 after acquiring an additional 1,416 shares during the period. Finally, State of Wyoming purchased a new position in KE during the fourth quarter valued at $100,000. 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.