Qfin (NASDAQ:QFIN) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Qfin was downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen in a recent research report.
• Despite the downgrade, three analysts continue to rate Qfin as a "buy" with a consensus target price of $51.73.
• Qfin reported earnings of $1.78 per share, which was below analysts' expectations, and had a revenue of $728 million compared to anticipated figures of $4.68 billion.

Qfin (NASDAQ:QFIN - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

Separately, JPMorgan Chase & Co. began coverage on shares of Qfin in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $51.73.

Qfin Price Performance

Shares of QFIN stock traded down $0.70 during trading hours on Friday, reaching $29.01. 2,357,331 shares of the company were exchanged, compared to its average volume of 2,193,433. Qfin has a fifty-two week low of $24.30 and a fifty-two week high of $48.94. The stock's fifty day moving average is $37.61 and its two-hundred day moving average is $40.39. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 4.10, a P/E/G ratio of 0.30 and a beta of 0.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48.

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

Institutional Investors Weigh In On Qfin

Institutional investors and hedge funds have recently modified their holdings of the business. SVB Wealth LLC bought a new stake in shares of Qfin during the first quarter worth approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin in the first quarter valued at approximately $29,000. GeoWealth Management LLC acquired a new stake in Qfin in the fourth quarter worth $26,000. Hantz Financial Services Inc. boosted its position in shares of Qfin by 472.9% during the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company's stock worth $32,000 after purchasing an additional 610 shares in the last quarter. Finally, Hoey Investments Inc. bought a new position in shares of Qfin during the second quarter worth $33,000. 74.81% of the stock is owned by institutional investors.

Qfin Company Profile

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.