Full Truck Alliance (NYSE:YMM) Now Covered by Bank of America

Key Points

• Bank of America initiated coverage on Full Truck Alliance (NYSE: YMM) with a Buy rating and a $11.30 price target, implying about a 31% upside from the prior close.
• Analyst views are mixed — three analysts rate the stock as Buy and four as Hold, leaving a consensus rating of "Hold" with a consensus target of $11.41.
• Key fundamentals: market capitalization of $8.99 billion, P/E of 14.38, latest quarterly revenue of $456.3 million and EPS of $0.01, and roughly 39% ownership by hedge funds and institutional investors.

Equities research analysts at Bank of America started coverage on shares of Full Truck Alliance (NYSE:YMM - Get Free Report) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a "buy" rating and a $11.30 price target on the stock. Bank of America's target price suggests a potential upside of 31.01% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on the stock. iA Financial set a $8.00 price objective on shares of Full Truck Alliance in a research note on Monday, January 12th. Morgan Stanley reaffirmed an "overweight" rating on shares of Full Truck Alliance in a research note on Thursday, March 12th. Weiss Ratings cut shares of Full Truck Alliance from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, January 13th. Daiwa Securities Group cut shares of Full Truck Alliance from a "buy" rating to a "neutral" rating and set a $9.00 price objective for the company. in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. raised shares of Full Truck Alliance from an "underweight" rating to a "neutral" rating and set a $8.00 price objective for the company in a research note on Wednesday, April 1st. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Full Truck Alliance presently has a consensus rating of "Hold" and a consensus target price of $11.41.

Full Truck Alliance Stock Performance

Shares of Full Truck Alliance stock opened at $8.63 on Tuesday. Full Truck Alliance has a 52-week low of $8.04 and a 52-week high of $14.07. The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of 14.38 and a beta of 0.30. The company has a fifty day moving average of $8.69 and a 200-day moving average of $10.27.

Full Truck Alliance (NYSE:YMM - Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.01 earnings per share (EPS) for the quarter. Full Truck Alliance had a net margin of 35.22% and a return on equity of 11.33%. The company had revenue of $456.32 million during the quarter. On average, equities research analysts forecast that Full Truck Alliance will post 0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. First Beijing Investment Ltd boosted its holdings in Full Truck Alliance by 73.8% in the third quarter. First Beijing Investment Ltd now owns 68,645,580 shares of the company's stock valued at $890,333,000 after acquiring an additional 29,150,926 shares in the last quarter. FIL Ltd boosted its holdings in Full Truck Alliance by 1.6% in the fourth quarter. FIL Ltd now owns 64,382,173 shares of the company's stock valued at $690,821,000 after acquiring an additional 1,040,793 shares in the last quarter. Invesco Ltd. boosted its holdings in Full Truck Alliance by 7.5% in the fourth quarter. Invesco Ltd. now owns 58,272,671 shares of the company's stock valued at $625,266,000 after acquiring an additional 4,049,322 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Full Truck Alliance by 43.6% during the 4th quarter. Schroder Investment Management Group now owns 47,859,035 shares of the company's stock valued at $513,527,000 after buying an additional 14,525,984 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Full Truck Alliance by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 33,004,634 shares of the company's stock valued at $354,140,000 after buying an additional 461,147 shares in the last quarter. 39.02% of the stock is owned by hedge funds and other institutional investors.

About Full Truck Alliance

Full Truck Alliance NYSE: YMM operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.

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