Qifu Technology (NASDAQ:QFIN) Upgraded at Wall Street Zen

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 issued 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.

Qifu Technology Stock Performance

Shares of Qifu Technology stock traded down $0.23 during midday trading on Friday, hitting $42.44. The company had a trading volume of 707,792 shares, compared to its average volume of 1,576,303. The stock has a market capitalization of $6.69 billion, a P/E ratio of 8.59, a P/E/G ratio of 0.32 and a beta of 0.53. Qifu Technology has a 52-week low of $18.13 and a 52-week high of $48.94. The company has a 50 day moving average of $41.33 and a 200 day moving average of $39.90.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released 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. The firm had revenue of $646.19 million for the quarter, compared to analysts' expectations of $4.61 billion. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. Equities research analysts forecast that Qifu Technology will post 5.71 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Wrapmanager Inc. boosted its holdings in shares of Qifu Technology by 4.1% in the fourth quarter. Wrapmanager Inc. now owns 7,554 shares of the company's stock valued at $290,000 after purchasing an additional 296 shares during the period. HB Wealth Management LLC grew its position in Qifu Technology by 7.2% during the 1st quarter. HB Wealth Management LLC now owns 6,431 shares of the company's stock worth $289,000 after purchasing an additional 431 shares during the period. Global Retirement Partners LLC grew its position in Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock worth $45,000 after purchasing an additional 518 shares during the period. SVB Wealth LLC acquired a new stake in shares of Qifu Technology during the 1st quarter valued at about $28,000. Finally, DGS Capital Management LLC grew its position in shares of Qifu Technology by 5.9% during the 4th quarter. DGS Capital Management LLC now owns 11,413 shares of the company's stock valued at $438,000 after acquiring an additional 631 shares during the period. Hedge funds and other institutional investors own 74.81% of the company's stock.

About Qifu Technology

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.