Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Sees Large Volume Increase Following Analyst Upgrade

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Shares of Joint Stock Company Kaspi.kz Sponsored ADR (NASDAQ:KSPI - Get Free Report) saw unusually-high trading volume on Wednesday after The Goldman Sachs Group upgraded the stock from a neutral rating to a buy rating. The Goldman Sachs Group now has a $107.00 price target on the stock. Approximately 958,625 shares were traded during mid-day trading, an increase of 188% from the previous session's volume of 333,315 shares.The stock last traded at $78.48 and had previously closed at $76.85.

KSPI has been the topic of a number of other reports. Zacks Research upgraded shares of Joint Stock Company Kaspi.kz from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $96.00 price objective on shares of Joint Stock Company Kaspi.kz in a research note on Wednesday, August 20th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Joint Stock Company Kaspi.kz in a research note on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $118.25.

Institutional Investors Weigh In On Joint Stock Company Kaspi.kz

A number of hedge funds and other institutional investors have recently bought and sold shares of KSPI. Sumitomo Mitsui Trust Group Inc. lifted its position in Joint Stock Company Kaspi.kz by 8.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 313,992 shares of the company's stock valued at $29,154,000 after acquiring an additional 24,616 shares during the last quarter. Flossbach Von Storch SE lifted its position in Joint Stock Company Kaspi.kz by 66.7% during the first quarter. Flossbach Von Storch SE now owns 25,000 shares of the company's stock valued at $2,321,000 after acquiring an additional 10,000 shares during the last quarter. Baillie Gifford & Co. lifted its position in Joint Stock Company Kaspi.kz by 17.1% during the first quarter. Baillie Gifford & Co. now owns 5,260,033 shares of the company's stock valued at $488,394,000 after acquiring an additional 768,529 shares during the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of Joint Stock Company Kaspi.kz by 8.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 313,545 shares of the company's stock worth $29,113,000 after buying an additional 24,616 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Joint Stock Company Kaspi.kz in the first quarter worth $110,000. Hedge funds and other institutional investors own 32.20% of the company's stock.

Joint Stock Company Kaspi.kz Trading Up 2.2%

The stock's fifty day simple moving average is $87.90 and its 200-day simple moving average is $86.46. The firm has a market cap of $15.66 billion, a PE ratio of 7.20 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.01 and a quick ratio of 1.01.

About Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in the Republic of Kazakhstan. It operates through three segments: Payments Platform, Marketplace Platform, and Fintech Platform. The Payments Platform segment facilities transactions between customers and merchants.

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