Qifu Technology (NASDAQ:QFIN) Shares Gap Up - Still a Buy?

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $36.54, but opened at $37.60. Qifu Technology shares last traded at $37.26, with a volume of 114,785 shares changing hands.

Analyst Ratings Changes

Separately, Bank of America upped their price objective on shares of Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a research note on Wednesday, March 26th.

Qifu Technology Stock Performance

The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The stock's fifty day moving average is $41.40 and its two-hundred day moving average is $38.12.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.14. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. The firm had revenue of $613.89 million for the quarter, compared to analyst estimates of $581.67 million. Sell-side analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, April 23rd will be issued a $0.70 dividend. This is an increase from Qifu Technology's previous semi-annual dividend of $0.60. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Qifu Technology's payout ratio is presently 23.79%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in QFIN. GeoWealth Management LLC acquired a new position in shares of Qifu Technology during the 4th quarter worth $26,000. Jones Financial Companies Lllp bought a new stake in shares of Qifu Technology in the fourth quarter valued at about $29,000. Wilmington Savings Fund Society FSB acquired a new stake in Qifu Technology during the third quarter worth about $30,000. Advisors Preferred LLC bought a new position in Qifu Technology during the fourth quarter valued at about $41,000. Finally, Global Retirement Partners LLC lifted its position in shares of Qifu Technology by 80.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after acquiring an additional 518 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qifu Technology 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.