Qifu Technology (NASDAQ:QFIN) Stock Rating Upgraded by Wall Street Zen

Qifu Technology (NASDAQ:QFIN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

Separately, Bank of America increased their price target on Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research report on Wednesday, March 26th.

Qifu Technology Trading Up 0.1%

QFIN traded up $0.03 during mid-day trading on Friday, hitting $42.55. 1,171,494 shares of the stock were exchanged, compared to its average volume of 1,574,430. The firm's fifty day moving average is $41.48 and its two-hundred day moving average is $39.79. Qifu Technology has a 1-year low of $18.13 and a 1-year high of $48.94. The company has a market cap of $6.71 billion, a PE ratio of 8.61, a PEG ratio of 0.32 and a beta of 0.53.

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, 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 business had revenue of $646.19 million during the quarter, compared to analysts' expectations of $4.61 billion. As a group, research analysts anticipate that Qifu Technology will post 5.71 earnings per share for the current year.

Hedge Funds Weigh In On Qifu Technology

Several institutional investors and hedge funds have recently made changes to their positions in QFIN. Wrapmanager Inc. grew its stake in Qifu Technology by 4.1% in the 4th quarter. Wrapmanager Inc. now owns 7,554 shares of the company's stock valued at $290,000 after buying an additional 296 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Qifu Technology by 7.2% during the first 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 last quarter. Global Retirement Partners LLC boosted its stake in Qifu Technology by 80.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after acquiring an additional 518 shares during the last quarter. SVB Wealth LLC purchased a new stake in Qifu Technology in the 1st quarter worth approximately $28,000. Finally, DGS Capital Management LLC increased its holdings in shares of Qifu Technology by 5.9% in the 4th quarter. DGS Capital Management LLC now owns 11,413 shares of the company's stock worth $438,000 after buying an additional 631 shares during the last quarter. Institutional investors and hedge funds 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.