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

Wall Street Zen lowered shares of Yuanbao (NASDAQ:YB) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Several other research analysts have also weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Yuanbao in a report on Monday, December 29th. Citigroup started coverage on Yuanbao in a research note on Monday, February 23rd. They set a “neutral” rating and a $21.80 price objective for the company. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $21.80.

Yuanbao Stock Performance

Yuanbao stock opened at $19.89 on Friday. Yuanbao has a one year low of $14.04 and a one year high of $31.00. The stock has a market cap of $896.64 million and a PE ratio of 6.93. The stock has a 50-day moving average of $20.06 and a two-hundred day moving average of $21.48.

Yuanbao (NASDAQ:YB) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $1.08 EPS for the quarter. The firm had revenue of $162.64 million for the quarter.

Institutional Investors Weigh In On Yuanbao

Several hedge funds have recently made changes to their positions in YB. Barclays PLC lifted its holdings in Yuanbao by 68.7% in the 4th quarter. Barclays PLC now owns 41,988 shares of the company’s stock valued at $851,000 after acquiring an additional 17,105 shares during the last quarter. Franchise GP Ltd bought a new stake in shares of Yuanbao in the fourth quarter valued at approximately $1,351,000. JPMorgan Chase & Co. raised its stake in shares of Yuanbao by 53.7% in the third quarter. JPMorgan Chase & Co. now owns 33,226 shares of the company’s stock valued at $653,000 after purchasing an additional 11,607 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Yuanbao during the third quarter valued at $59,613,000. Finally, WFM ASIA BVI Ltd boosted its stake in Yuanbao by 89.9% in the third quarter. WFM ASIA BVI Ltd now owns 182,500 shares of the company’s stock worth $3,584,000 after purchasing an additional 86,414 shares in the last quarter.

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.