Barclays Lowers KE (NYSE:BEKE) Price Target to $25.00

Key Points

• Barclays has lowered its price target for KE Holdings Inc. (NYSE:BEKE) from $33.00 to $25.00, maintaining an "overweight" rating on the stock, indicating a potential upside of 35.98%.
• JPMorgan Chase & Co. also reduced their price target for the stock from $24.00 to $22.00, while Citigroup decreased theirs from $25.80 to $24.80, demonstrating a bearish trend among analysts.
• Institutional interest remains strong, with Mirae Asset Global Investments raising its stake significantly by 3,203.0%, now owning over 8 million shares valued at approximately $160 million.

KE (NYSE:BEKE - Get Free Report) had its target price decreased by analysts at Barclays from $33.00 to $25.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 35.98% from the stock's current price.

BEKE has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price target on KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday. Citigroup dropped their price target on KE from $25.80 to $24.80 and set a "buy" rating on the stock in a research report on Friday, May 16th. Wall Street Zen cut KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, UBS Group upgraded KE from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $22.10 to $23.00 in a research note on Friday, May 16th. 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.97.

KE Price Performance

Shares of NYSE BEKE traded down $0.01 during trading on Friday, reaching $18.39. 984,205 shares of the stock traded hands, compared to its average volume of 8,637,693. KE has a 52-week low of $13.28 and a 52-week high of $26.05. The company has a 50-day moving average of $18.49 and a 200-day moving average of $19.52. The stock has a market capitalization of $21.89 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 1.37 and a beta of -0.76.

Institutional Trading of KE

A number of hedge funds and other institutional investors have recently made changes to their positions in BEKE. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of KE by 3,203.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,002,448 shares of the company's stock valued at $160,769,000 after purchasing an additional 7,760,169 shares during the period. Norges Bank bought a new position in KE in the 2nd quarter worth about $124,616,000. Aspex Management HK Ltd bought a new position in KE in the 4th quarter worth about $119,996,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in KE by 299.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,323,774 shares of the company's stock worth $147,135,000 after acquiring an additional 5,490,172 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in KE by 504.2% in the 4th quarter. Nuveen Asset Management LLC now owns 5,643,271 shares of the company's stock worth $103,949,000 after acquiring an additional 4,709,266 shares during the last quarter. 39.34% of the stock is currently owned by institutional investors.

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.

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