Is BlackRock Undervalued Right Now?

The worldʻs largest asset manager, BlackRock (NYSE: BLK) has seen its stock price plummet 27% year to date, and since it closed at over $971 per share last November, it has lost nearly one-third of its value.

With the stock market down significantly this year, BlackRock saw its assets under management decline about 4% in the latest quarter to $9.6 trillion and revenue fall about 7.8% from the previous quarter. However, the numbers are up year over year, and BlackRock beat earnings estimates with $1.4 billion in net income, up 18% compared to the first quarter of 2021.

With the drop in price, is BlackRock, which manages the iShares line of exchange-traded funds (ETFs), undervalued? And is it a buy?

Source Fool.com