Yuanbao (NASDAQ:YB) Cut to “Hold” at Wall Street Zen

Yuanbao (NASDAQ:YB) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other brokerages have also weighed in on YB. Citigroup initiated coverage on Yuanbao in a research report on Monday. They issued a “neutral” rating and a $21.80 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Yuanbao in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Yuanbao presently has a consensus rating of “Hold” and an average target price of $21.80.

Yuanbao Stock Performance

YB stock opened at $19.54 on Friday. The stock’s 50 day moving average price is $20.07 and its 200 day moving average price is $21.60. The firm has a market cap of $880.86 million and a P/E ratio of 6.81. Yuanbao has a 1 year low of $14.04 and a 1 year high of $31.00.

Yuanbao (NASDAQ:YB) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $1.08 earnings per share for the quarter. The firm had revenue of $162.64 million during the quarter.

Hedge Funds Weigh In On Yuanbao

A number of hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP bought a new position in Yuanbao in the 3rd quarter worth approximately $59,613,000. WFM ASIA BVI Ltd bought a new position in shares of Yuanbao in the second quarter worth $2,020,000. Franchise GP Ltd acquired a new position in shares of Yuanbao during the fourth quarter valued at $1,351,000. JPMorgan Chase & Co. bought a new stake in shares of Yuanbao during the second quarter valued at about $454,000. Finally, Federated Hermes Inc. acquired a new stake in Yuanbao in the second quarter worth about $370,000.

About Yuanbao

Our mission is to protect health and well-being through technology. We are a leading technology-driven online insurance distributor in China. We take pride in pioneering the seamless integration of insurance with cutting-edge technologies, and have constructed a highly efficient full consumer service cycle engine. Through this engine, we successfully distribute suitable and high-quality insurance products to over ten million insurance consumers. According to Frost & Sullivan, we were the largest independent insurance distributor in China’s personal life and accident & health (A&H) insurance market in terms of first year premiums in 2023.