Qfin (NASDAQ:QFIN - Get Free Report) was downgraded by Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a report issued on Saturday,Weiss Ratings reports.
Several other research firms also recently issued reports on QFIN. JPMorgan Chase & Co. started coverage on Qfin in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 target price on the stock. Wall Street Zen downgraded Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Zacks Research downgraded Qfin from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Qfin currently has a consensus rating of "Hold" and a consensus price target of $51.73.
Read Our Latest Report on QFIN
Qfin Stock Up 1.8%
Shares of QFIN traded up $0.48 on Friday, reaching $26.99. The company's stock had a trading volume of 1,069,322 shares, compared to its average volume of 1,540,516. 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 has a twelve month low of $24.83 and a twelve month high of $48.94. The stock has a market capitalization of $3.83 billion, a PE ratio of 3.81, a PEG ratio of 0.28 and a beta of 0.42. The firm has a fifty day moving average of $28.83 and a 200-day moving average of $36.39.
Qfin (NASDAQ:QFIN - Get Free Report) last released 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). Qfin had a net margin of 38.66% and a return on equity of 30.74%. The company had revenue of $728.00 million for the quarter, compared to the consensus estimate of $4.68 billion. Equities analysts predict that Qfin will post 5.71 EPS for the current year.
Hedge Funds Weigh In On Qfin
A number of large investors have recently added to or reduced their stakes in the business. SVB Wealth LLC bought a new stake in Qfin in the 1st quarter worth $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Qfin in the 1st quarter worth $29,000. Hantz Financial Services Inc. grew its holdings in Qfin by 472.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company's stock worth $32,000 after acquiring an additional 610 shares during the last quarter. Hoey Investments Inc. bought a new stake in Qfin in the 2nd quarter worth $33,000. Finally, iA Global Asset Management Inc. grew its holdings in Qfin by 250.2% in the 2nd quarter. iA Global Asset Management Inc. now owns 823 shares of the company's stock worth $36,000 after acquiring an additional 588 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company's stock.
Qfin Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Qfin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Qfin wasn't on the list.
While Qfin currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
