Qfin (NASDAQ:QFIN) Given Buy (B-) Rating at Weiss Ratings

Key Points

• Qfin (NASDAQ:QFIN) has received a "buy (B-)" rating from Weiss Ratings, indicating positive market sentiment towards the stock.
• JPMorgan Chase issued an "overweight" rating with a target price of $65.00 for Qfin, while four analysts rate it as a Buy with a consensus target of $51.73.
• Qfin reported $1.78 EPS for the last quarter, slightly missing analyst expectations, and showed significant institutional investment with 74.81% of the stock owned by hedge funds and other investors.

Qfin (NASDAQ:QFIN - Get Free Report)'s stock had its "buy (b-)" rating reiterated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently commented on QFIN. JPMorgan Chase & Co. started coverage on Qfin in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 target price on the stock. Wall Street Zen downgraded shares of Qfin from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $51.73.

Qfin Stock Performance

QFIN stock opened at $28.52 on Wednesday. Qfin has a 1-year low of $27.64 and a 1-year high of $48.94. The firm has a market cap of $4.05 billion, a PE ratio of 4.03, a price-to-earnings-growth ratio of 0.29 and a beta of 0.42. The stock has a 50-day moving average price of $30.54 and a 200-day moving average price of $37.78. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The firm had revenue of $728.00 million during the quarter, compared to the consensus estimate of $4.68 billion. Qfin had a net margin of 38.66% and a return on equity of 30.74%. As a group, equities research analysts expect that Qfin will post 5.71 earnings per share for the current year.

Hedge Funds Weigh In On Qfin

Institutional investors have recently bought and sold shares of the company. Yousif Capital Management LLC acquired a new position in shares of Qfin in the first quarter valued at approximately $209,000. Matthews International Capital Management LLC purchased a new position in Qfin during the 1st quarter worth $4,025,000. Oppenheimer & Co. Inc. purchased a new position in shares of Qfin in the 1st quarter valued at about $208,000. Asset Management One Co. Ltd. increased its holdings in shares of Qfin by 36.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 44,755 shares of the company's stock valued at $2,010,000 after purchasing an additional 11,882 shares in the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new stake in shares of Qfin during the 1st quarter worth about $19,016,000. 74.81% of the stock is owned by hedge funds and other institutional investors.

About Qfin

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.

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