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 analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Friday.

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

Qfin Price Performance

Shares of QFIN opened at $31.45 on Friday. The firm has a market cap of $4.96 billion, a PE ratio of 4.44, a P/E/G ratio of 0.31 and a beta of 0.39. The company has a current ratio of 3.48, a quick ratio of 3.08 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $38.64 and a two-hundred day simple moving average of $40.73. Qfin has a 1-year low of $24.30 and a 1-year high of $48.94.

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

Institutional Investors Weigh In On Qfin

A number of institutional investors have recently bought and sold shares of QFIN. Wells Fargo & Company MN increased its stake in Qfin by 1,392.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,595 shares of the company's stock worth $215,000 after buying an additional 5,220 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Qfin in the 4th quarter worth $298,000. Barclays PLC increased its stake in Qfin by 36.2% in the 4th quarter. Barclays PLC now owns 145,326 shares of the company's stock worth $5,577,000 after buying an additional 38,593 shares in the last quarter. Mariner LLC increased its stake in Qfin by 58.1% in the 4th quarter. Mariner LLC now owns 32,128 shares of the company's stock worth $1,233,000 after buying an additional 11,813 shares in the last quarter. Finally, GeoWealth Management LLC purchased a new stake in Qfin in the 4th quarter worth $26,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

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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