shares of ke holdings are slumping in asian trading despite betterthanexpected quarterly earnings and upbeat outlooks by several analysts the hongkong listed shares of chinas largest residential property broker also known as beike were down 60 at the midday break friday trimming their yeartodate gains to 61 the hang seng index is down 10 beike said thursday that its net profit reached 275 billion yuan 3909 million in the first quarter reversing from a cny6180 million loss in the same period last year while revenue rose 63 on year to cny2028 billion both metrics beat consensus expectations chief executive stanley yongdong peng said the company is pleased to see a strong rebound emerging in the real estate market in china along with improving macroeconomic conditions he added the beike significantly outpaced the industry in gross transaction value growth for both existing and new home transactions citi analysts harry chen and griffin chan kept their top pick status for beike while raising their target price about 3 to 2600 for adrs and hk6820 for the hong konglisted shares in a research note they highlighted betterthanexpected margin and revenue and said that based on positive gaap profits we estimate it would able to declare dividends from fy 2023 they also described secondquarter revenue guidance as prudent with room for a beat nomura analyst jizhou dong took a slightly less sanguine view saying in a note that the results were solid but likely not enough we are concerned on the growing uncertainties from the weakening broader property sales sentiment he wrote we expect concerns to remain unless a more proactive property policy is introduced in the second or third quarters  something not very likely to take place in our view the analyst also described guidance as relatively conservative for secondquarter revenue growth of 3438 from a low base a year ago nomura maintained a buy rating however noting significant upside to its unchanged price target on uslisted adrs of us2723 adrs fell 82 in thursday trade in new york to 1497