JPMorgan Chase & Co. Issues Pessimistic Forecast for KE (NYSE:BEKE) Stock Price

Key Points

• JPMorgan Chase & Co. has reduced its price target for KE Holdings Inc. (NYSE: BEKE) from $24.00 to $22.00, maintaining an "overweight" rating on the stock.
• Despite the downgrade, analysts suggest a potential upside of 24.19% from the stock's current price, which was $17.72 at the time of reporting.
• User sentiment appears mixed, with KE Holdings having a consensus rating of "Moderate Buy" and an average target price of $26.30 amidst recent changes in ratings from various firms.

KE (NYSE:BEKE - Get Free Report) had its price target lowered by research analysts at JPMorgan Chase & Co. from $24.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 24.19% from the stock's current price.

A number of other research firms have also recently weighed in on BEKE. Wall Street Zen cut KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Citigroup cut their price objective on KE from $25.80 to $24.80 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, UBS Group raised KE from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $22.10 to $23.00 in a research report on Friday, May 16th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, KE has a consensus rating of "Moderate Buy" and an average target price of $26.30.

KE Price Performance

Shares of BEKE stock traded down $0.01 during trading hours on Tuesday, reaching $17.72. 1,270,562 shares of the company's stock were exchanged, compared to its average volume of 8,727,010. The company has a market cap of $21.09 billion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 1.31 and a beta of -0.76. The company's 50 day moving average is $18.51 and its two-hundred day moving average is $19.54. KE has a 1 year low of $13.28 and a 1 year high of $26.05.

Institutional Investors Weigh In On KE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in KE during the first quarter worth approximately $34,000. Strs Ohio bought a new position in shares of KE in the first quarter valued at $44,000. Hantz Financial Services Inc. increased its holdings in shares of KE by 599.5% in the second quarter. Hantz Financial Services Inc. now owns 3,036 shares of the company's stock valued at $54,000 after buying an additional 2,602 shares in the last quarter. Wealthquest Corp bought a new position in shares of KE in the first quarter valued at $79,000. Finally, State of Wyoming bought a new position in shares of KE in the fourth quarter valued at $100,000. 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.

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