Citi Maintained a Buy Rating on Full Truck Alliance (YMM), Kept a Buy Rating

Full Truck Alliance Co., Ltd. (NYSE:YMM) is one of the Best Tech Stocks to Buy Under $20. On May 20, Brian Gong from Citi maintained a Buy rating on Full Truck Alliance Co., Ltd. (NYSE:YMM) with a price target of $16.

The analyst noted his bullish sentiment is based on the strong performance and smart strategies of the company. Full Truck Alliance Co., Ltd. (NYSE:YMM) has seen solid growth in order volume, driven by improved adjustments that make shippers and truckers engage more with the platform. While Gong expects the order volume to grow faster in the future, he also highlighted challenges arising from less-than-truckload orders. Moreover, the analyst highlighted that the company is making strategic investments, which might hurt the margins in the short run but will help the company achieve meaningful growth in the long term.

Full Truck Alliance Co., Ltd. (NYSE:YMM) is a digital platform that connects shippers and truck drivers. The company uses advanced technologies, including cloud computing, big data, and AI, to help shippers find trucks and drivers find goods easily.

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Disclosure: None. This article is originally published at Insider Monkey.