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Wall Street Zen Upgrades Qifu Technology (NASDAQ:QFIN) to Strong-Buy

Qifu Technology logo with Business Services background

Qifu Technology (NASDAQ:QFIN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released 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 report on Wednesday, March 26th.

View Our Latest Research Report on Qifu Technology

Qifu Technology Stock Performance

Shares of Qifu Technology stock traded up $0.38 during trading on Friday, reaching $42.93. 1,015,524 shares of the company's stock were exchanged, compared to its average volume of 1,572,360. The company has a market cap of $6.77 billion, a P/E ratio of 8.69, a PEG ratio of 0.32 and a beta of 0.53. Qifu Technology has a 1-year low of $18.13 and a 1-year high of $48.94. The firm's 50-day moving average price is $41.41 and its 200 day moving average price is $39.81.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings results on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.02. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. The company had revenue of $646.19 million during the quarter, compared to analysts' expectations of $4.61 billion. As a group, equities research analysts predict that Qifu Technology will post 5.71 EPS for the current year.

Hedge Funds Weigh In On Qifu Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. SVB Wealth LLC purchased a new position in Qifu Technology during the first quarter worth $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Qifu Technology during the 1st quarter worth about $29,000. GeoWealth Management LLC acquired a new stake in shares of Qifu Technology in the fourth quarter valued at about $26,000. Jones Financial Companies Lllp acquired a new position in Qifu Technology during the fourth quarter worth about $29,000. Finally, Advisors Preferred LLC acquired a new stake in shares of Qifu Technology in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qifu Technology 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.

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