Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Shares Gap Up - Time to Buy?

Key Points

• Joint Stock Company Kaspi.kz shares opened at $83.51, significantly higher than the previous close of $76.16, reflecting a positive market response.
• Wall Street analysts have lowered the price target for Kaspi.kz from $140.00 to $130.00, while maintaining a "positive" rating for the company.
• Institutional investors own 32.20% of Kaspi.kz's stock, with significant recent investments from hedge funds, indicating continued interest in the company.

Shares of Joint Stock Company Kaspi.kz Sponsored ADR (NASDAQ:KSPI - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $76.16, but opened at $83.51. Joint Stock Company Kaspi.kz shares last traded at $82.52, with a volume of 97,359 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on KSPI shares. Susquehanna reduced their price target on shares of Joint Stock Company Kaspi.kz from $140.00 to $130.00 and set a "positive" rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price objective on Joint Stock Company Kaspi.kz from $137.00 to $96.00 and set an "overweight" rating for the company in a research note on Friday, August 1st.

Joint Stock Company Kaspi.kz Stock Up 3.2%

The stock has a market capitalization of $18.89 billion, a price-to-earnings ratio of 9.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. The firm's fifty day simple moving average is $84.49 and its 200 day simple moving average is $89.90.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KSPI. Quantbot Technologies LP bought a new position in shares of Joint Stock Company Kaspi.kz in the first quarter valued at $110,000. Flossbach Von Storch SE raised its holdings in shares of Joint Stock Company Kaspi.kz by 66.7% in the 1st quarter. Flossbach Von Storch SE now owns 25,000 shares of the company's stock valued at $2,321,000 after purchasing an additional 10,000 shares during the period. Driehaus Capital Management LLC grew its holdings in Joint Stock Company Kaspi.kz by 24.8% during the first quarter. Driehaus Capital Management LLC now owns 40,075 shares of the company's stock worth $3,721,000 after purchasing an additional 7,951 shares during the period. Renaissance Capital LLC increased its position in Joint Stock Company Kaspi.kz by 6.7% during the second quarter. Renaissance Capital LLC now owns 65,635 shares of the company's stock worth $5,572,000 after buying an additional 4,111 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Joint Stock Company Kaspi.kz by 1,095.0% in the fourth quarter. Marshall Wace LLP now owns 125,241 shares of the company's stock valued at $11,862,000 after purchasing an additional 114,761 shares during the last quarter. 32.20% of the stock is currently owned by institutional investors.

Joint Stock Company Kaspi.kz Company Profile

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.