Barclays Reaffirms Hold Rating on Full Truck Alliance (YMM), Jefferies Keeps Buy

Core Viewpoint - Full Truck Alliance Co., Ltd. (NYSE:YMM) is recognized as a notable investment opportunity among Chinese tech stocks, with Barclays maintaining a Hold rating and a price target of $12, while Jefferies has a Buy rating with a revised price target of $13.00 [1][2]. Financial Performance - Full Truck reported a revenue increase of 25.14% year-over-year, surpassing expectations, and maintained gross profit margins at 90.92% [2]. - The company's non-GAAP operating profit exceeded projections, although higher tax expenses resulted in non-GAAP earnings falling short of consensus estimates [3]. - Despite expectations of slower growth in fulfilled orders for Q4, the midpoint of Full Truck's Q4 revenue guidance is above consensus [3]. Company Overview - Full Truck Alliance is China's leading digital freight platform, connecting shippers with truckers through a mobile-based marketplace, which enhances logistics efficiency and reduces inefficiencies in the trucking industry [4].