Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Stock Price Target Raised at Freedom Broker

Key Points

• Freedom Broker raised Kaspi.kz’s price target from $93 to $101, while maintaining a “hold” rating; the new target implies about 13% upside from the stock’s current price.
• Analyst sentiment remains mostly cautious: MarketBeat reports a consensus “hold” rating from one Buy and four Hold recommendations, with an average price target of $105.33.
• Kaspi.kz shares rose 1.6% on Wednesday to $89.33. Institutional ownership stands at 32.2%, with some investors increasing their holdings during recent quarters.

Joint Stock Company Kaspi.kz (NASDAQ:KSPI - Get Free Report) had its price objective lifted by Freedom Broker from $93.00 to $101.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a "hold" rating on the stock. Freedom Broker's price target would indicate a potential upside of 13.06% from the stock's current price.

KSPI has been the subject of several other reports. Weiss Ratings raised Joint Stock Company Kaspi.kz from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 8th. Zacks Research downgraded Joint Stock Company Kaspi.kz from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 30th. Wolfe Research raised their price target on Joint Stock Company Kaspi.kz from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, August 25th. Finally, Susquehanna boosted their price objective on Joint Stock Company Kaspi.kz from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Joint Stock Company Kaspi.kz presently has a consensus rating of "Hold" and an average target price of $105.33.

Joint Stock Company Kaspi.kz Trading Up 1.6%

KSPI traded up $1.44 on Wednesday, hitting $89.33. 253,757 shares of the company's stock were exchanged, compared to its average volume of 517,833. The firm has a market cap of $16.98 billion, a PE ratio of 8.15 and a beta of 1.07. Joint Stock Company Kaspi.kz has a twelve month low of $68.59 and a twelve month high of $109.94. The stock has a fifty day moving average of $95.43 and a two-hundred day moving average of $86.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. North of South Capital LLP raised its holdings in shares of Joint Stock Company Kaspi.kz by 1.2% during the third quarter. North of South Capital LLP now owns 999,374 shares of the company's stock valued at $94,001,000 after buying an additional 11,984 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Joint Stock Company Kaspi.kz by 53.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 355,386 shares of the company's stock worth $33,428,000 after buying an additional 123,046 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Joint Stock Company Kaspi.kz in the 2nd quarter valued at approximately $7,375,000. Ramsey Quantitative Systems acquired a new stake in Joint Stock Company Kaspi.kz in the 2nd quarter valued at approximately $159,000. Finally, FNY Investment Advisers LLC raised its stake in Joint Stock Company Kaspi.kz by 52.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 789 shares of the company's stock valued at $68,000 after acquiring an additional 271 shares in the last quarter. 32.20% of the stock is owned by institutional investors and hedge funds.

About Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz is a Kazakhstan-based technology and financial services company that operates a digital ecosystem through its Kaspi.kz super app. Its services connect consumers, merchants and financial institutions across everyday shopping and financial activities. The company's offerings include an online marketplace, digital payments and financial products such as consumer loans, deposits and merchant services. It also provides services such as travel booking through its platform.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.