Qfin (NASDAQ:QFIN) Given New $13.50 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Qfin’s price target from $14.50 to $13.50 while maintaining a “neutral” rating, implying approximately 4.43% upside from the stock’s $12.93 price.
• Analyst sentiment remains cautious: Qfin has an overall “Hold” rating and an average price target of $17.41, based on one Buy, three Hold, and one Sell rating.
• Qfin reported quarterly earnings of $1.12 per share on $567.01 million in revenue, while institutional investors own 74.81% of the company and insiders hold 17.10%.

Qfin (NASDAQ:QFIN - Get Free Report) had its target price reduced by JPMorgan Chase & Co. from $14.50 to $13.50 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 4.43% from the company's current price.

A number of other equities analysts have also recently commented on the stock. Bank of America reiterated a "neutral" rating and issued a $15.33 target price on shares of Qfin in a research report on Wednesday, May 27th. Weiss Ratings lowered shares of Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, July 13th. Finally, Zacks Research raised Qfin from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $17.41.

Qfin Price Performance

QFIN stock traded down $0.10 during midday trading on Tuesday, reaching $12.93. The company had a trading volume of 180,530 shares, compared to its average volume of 1,458,444. The firm has a 50-day moving average price of $14.34 and a 200-day moving average price of $14.24. The company has a market capitalization of $1.57 billion, a P/E ratio of 2.37 and a beta of 0.63. Qfin has a 1 year low of $11.31 and a 1 year high of $34.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.22 and a quick ratio of 2.22.

Qfin (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. The firm had revenue of $567.01 million for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. On average, research analysts anticipate that Qfin will post 3.85 earnings per share for the current fiscal year.

Insider Activity at Qfin

In other news, Director Xiaohuan Chen bought 4,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the acquisition, the director owned 19,000 shares in the company, valued at approximately $273,790. This trade represents a 26.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 17.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Triata Capital Ltd grew its position in shares of Qfin by 188.3% in the 4th quarter. Triata Capital Ltd now owns 3,125,331 shares of the company's stock worth $60,225,000 after buying an additional 2,041,351 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Qfin by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,988,999 shares of the company's stock valued at $38,350,000 after acquiring an additional 176,754 shares in the last quarter. Bank of America Corp DE increased its position in Qfin by 48.5% during the 1st quarter. Bank of America Corp DE now owns 1,987,457 shares of the company's stock valued at $25,658,000 after purchasing an additional 649,492 shares during the period. Goldman Sachs Group Inc. raised its holdings in Qfin by 198.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,842,278 shares of the company's stock worth $35,501,000 after purchasing an additional 1,224,164 shares in the last quarter. Finally, Norges Bank bought a new position in Qfin in the 4th quarter worth $30,436,000. Institutional investors own 74.81% of the company's stock.

About Qfin

360 DigiTech, Inc NASDAQ: QFIN is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company's flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.

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