Full Truck Alliance (NYSE:YMM) Given New $13.00 Price Target at Citigroup

Full Truck Alliance (NYSE:YMM) had its price objective lifted by stock analysts at Citigroup from $12.00 to $13.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 38.74% from the company’s previous close.

Separately, Barclays lowered their price objective on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $10.00.

Full Truck Alliance Stock Performance

Shares of YMM opened at $9.37 on Thursday. Full Truck Alliance has a 52-week low of $5.70 and a 52-week high of $10.29. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 22.31 and a beta of 0.23. The business’s fifty day moving average is $8.86 and its 200-day moving average is $8.37.

Full Truck Alliance (NYSE:YMM) last released its earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $380.38 million for the quarter, compared to analysts’ expectations of $369.24 million. Full Truck Alliance had a return on equity of 7.88% and a net margin of 26.80%. As a group, research analysts forecast that Full Truck Alliance will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Full Truck Alliance

Several large investors have recently modified their holdings of the business. First Beijing Investment Ltd bought a new stake in shares of Full Truck Alliance in the third quarter worth $123,804,000. Mubadala Investment Co PJSC grew its position in shares of Full Truck Alliance by 45.7% in the 1st quarter. Mubadala Investment Co PJSC now owns 16,776,591 shares of the company’s stock valued at $121,966,000 after buying an additional 5,263,157 shares during the last quarter. Sylebra Capital LLC acquired a new stake in shares of Full Truck Alliance in the first quarter valued at about $36,877,000. Polunin Capital Partners Ltd bought a new position in shares of Full Truck Alliance during the third quarter worth about $29,632,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Full Truck Alliance by 1,220.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,985,200 shares of the company’s stock worth $15,961,000 after acquiring an additional 1,834,900 shares during the period. Institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Company Profile

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.