KE (NYSE:BEKE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

KE (NYSE:BEKE) had its price target upped by equities researchers at Morgan Stanley from $19.00 to $27.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 21.28% from the company’s current price.

Separately, Barclays raised their price objective on KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th.

KE Stock Performance

NYSE:BEKE traded down $1.01 during midday trading on Wednesday, reaching $22.26. 9,406,324 shares of the stock traded hands, compared to its average volume of 9,223,834. The business has a 50-day moving average of $19.68 and a two-hundred day moving average of $19.38. KE has a 12-month low of $12.49 and a 12-month high of $26.05. The stock has a market capitalization of $26.90 billion, a PE ratio of 45.44, a price-to-earnings-growth ratio of 3.45 and a beta of -0.82.

Institutional Trading of KE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of KE in the third quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new position in KE in the 4th quarter worth approximately $30,000. Principal Securities Inc. raised its position in KE by 411.9% during the 4th quarter. Principal Securities Inc. now owns 2,068 shares of the company’s stock worth $38,000 after buying an additional 1,664 shares during the last quarter. Rakuten Securities Inc. lifted its stake in KE by 42.3% during the 4th quarter. Rakuten Securities Inc. now owns 4,762 shares of the company’s stock valued at $88,000 after acquiring an additional 1,416 shares during the period. Finally, State of Wyoming purchased a new stake in shares of KE in the 4th quarter valued at $100,000. Institutional investors and hedge funds 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.