Qifu Technology (NASDAQ:QFIN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.
Separately, Bank of America raised their price target on Qifu Technology from $50.66 to $52.70 and gave the company a "buy" rating in a research note on Wednesday, March 26th.
Check Out Our Latest Stock Analysis on Qifu Technology
Qifu Technology Stock Up 6.1%
Shares of QFIN traded up $2.62 during midday trading on Friday, hitting $45.80. The company had a trading volume of 1,964,338 shares, compared to its average volume of 1,578,927. Qifu Technology has a 1 year low of $18.13 and a 1 year high of $48.94. The firm has a market capitalization of $7.22 billion, a P/E ratio of 7.02, a P/E/G ratio of 0.53 and a beta of 0.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. The company's 50-day simple moving average is $41.80 and its 200-day simple moving average is $40.89.
Qifu Technology (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.72 by $0.02. Qifu Technology had a net margin of 38.99% and a return on equity of 29.73%. The company had revenue of $646.19 million during the quarter, compared to analysts' expectations of $4.61 billion. As a group, sell-side analysts expect that Qifu Technology will post 5.71 EPS for the current year.
Institutional Trading of Qifu Technology
Several institutional investors have recently modified their holdings of QFIN. GeoWealth Management LLC acquired a new stake in Qifu Technology during the 4th quarter worth $26,000. SVB Wealth LLC acquired a new stake in shares of Qifu Technology during the first quarter worth about $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Qifu Technology in the 4th quarter valued at about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Qifu Technology in the 1st quarter valued at about $29,000. Finally, Global Retirement Partners LLC boosted 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 valued at $45,000 after purchasing an additional 518 shares during the period. Hedge funds and other institutional investors own 74.81% of the company's stock.
About Qifu Technology
(
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.
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