The ADS (American Depositary Share) of digital freight platform provider Full Truck Alliance (NYSE:YMM) is up over 9% in the pre-market session, thanks to its solid Q3 performance.
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YMM’s adjusted earnings per ADS of $0.07 handily surpassed the analysts’ estimate of $0.03. Moreover, it compared favorably with the prior-year period. Its total net revenues increased 45.7% year-over-year to RMB1,808.6 million ($254.2 million) in Q3. Further, the gross transaction value reached $9.8 billion.
Its CEO, Peter Hui Zhang, said that despite weak seasonal demand and macro headwinds, the company delivered a solid Q3, reflecting the strength of its platform and business model.
Is YMM a Good Stock to Buy?
YMM stock has received a Buy recommendation from Citigroup analyst Brian Gong. Moreover, his price target of $12 implies 95.4% upside potential.
YMM stock has a positive signal from hedge funds. Our data shows that hedge funds bought 4.4M YMM shares last quarter. However, it has a negative indicator from retail investors. Overall, Full Truck Alliance stock has a Smart Score of four, implying a Neutral outlook.
