Kuaishou Technology’s Stock Price Plummets to 46.55 HKD, Registering a Sharp 11.42% Drop

Kuaishou Technology (1024)

46.55 HKD -6.00 (-11.42%) Volume: 111.15M

Explore Kuaishou Technology’s stock price performance, currently at 46.55 HKD, witnessing a significant drop of -11.42% this trading session with a high trading volume of 111.15M. Despite a challenging year, its year-to-date change stands at -12.56%, showcasing its resilience in the volatile market.

Latest developments on Kuaishou Technology

Kuaishou Technology, a leading technology company, recently announced its unaudited financial results for the third quarter of 2024, showcasing an impressive profit surge. Despite this positive news, the company’s stock price saw a decline as concerns about weak consumer demand in China lingered. Additionally, the relocation of Kuaishou Technology‘s Hong Kong office and the trimming of its target price by G Sachs added to the stock’s downward trend. Institutional investors hold a 28% stake in the company, while individual investors remain the largest shareholders with 36% ownership. The company’s stock hit a three-week low on the lacklustre outlook, highlighting the challenges it faces in the market.

Kuaishou Technology on Smartkarma

Analysts on Smartkarma have been closely following Kuaishou Technology, with reports indicating strong performance in the third quarter of 2024. Ming Lu‘s report highlights the growth in online marketing and other revenues, as well as improved margins compared to the previous year. The overall sentiment is bullish, with expectations of further revenue acceleration and margin improvement as the company focuses on e-commerce profitability.

Ying Pan’s preview for Kuaishou’s third quarter results also maintains a positive outlook, noting solid growth in advertising despite slower GMV growth. The report suggests a BUY rating with a target price of HK$75. Analysts expect Kuaishou to report revenue, operating profit, and net income in line with consensus estimates. The quarter is characterized by robust advertising performance but moderated GMV growth due to weak consumption trends, reinforcing the BUY rating and target price set by the analysts.

A look at Kuaishou Technology Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

According to Smartkarma Smart Scores, Kuaishou Technology has a positive long-term outlook, with high scores in Growth, Resilience, and Momentum. The company excels in its ability to expand and adapt to market changes, showing strong potential for future development and profitability.

While Kuaishou Technology may not be as strong in the Dividend category, its overall Value score indicates a solid foundation for investment. As a content community and social platform, Kuaishou Technology‘s innovative approach to user-generated content sets it apart in the industry, making it a promising player in the global market for short video sharing on mobile devices.

### Kuaishou Technology operates as a content community and social platform. The Company helps users create, upload and watch short videos on mobile devices. Kuaishou Technology offers services worldwide. ###

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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