Jianpu Technology (JT) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Jianpu Technology (NYSE:JT) from a hold rating to a sell rating in a research note published on Friday.

According to Zacks, “Jianpu Technology Inc. is an open platform for discovery and recommendation of financial products primarily in China. The Company offers loan applications, credit card services and sales and marketing solutions. It serves credit information providers, payment companies and e-commerce platforms. Jianpu Technology Inc. is based in Beijing, China. “

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A number of other research firms have also recently issued reports on JT. Morgan Stanley assumed coverage on shares of Jianpu Technology in a research report on Thursday, December 14th. They set an equal weight rating and a $8.50 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Jianpu Technology in a research report on Wednesday, December 20th. They set a neutral rating and a $8.00 price objective for the company. Finally, Goldman Sachs Group assumed coverage on shares of Jianpu Technology in a research report on Wednesday, December 13th. They set a buy rating and a $10.00 price objective for the company.

Jianpu Technology (NYSE JT) opened at $6.00 on Friday. Jianpu Technology has a 12-month low of $4.75 and a 12-month high of $9.49.

Jianpu Technology (NYSE:JT) last released its quarterly earnings data on Monday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.13). The company had revenue of $89.86 million for the quarter. analysts predict that Jianpu Technology will post -0.06 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN acquired a new position in Jianpu Technology in the 4th quarter valued at approximately $35,219,000. Viking Global Investors LP acquired a new position in Jianpu Technology in the 4th quarter valued at approximately $16,963,000. BlackRock Inc. acquired a new position in Jianpu Technology in the 4th quarter valued at approximately $10,019,000. Yiheng Capital LLC acquired a new position in Jianpu Technology in the 4th quarter valued at approximately $4,524,000. Finally, Millennium Management LLC acquired a new position in Jianpu Technology in the 4th quarter valued at approximately $2,722,000.

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Jianpu Technology Company Profile

Jianpu Technology Inc provides an open platform for discovery and recommendation of financial products in China. The Company, through its technology, provides users with personalized search results and recommendations that are tailored to each user’s particular financial needs and credit profile. Financial service providers offer a wide variety of financial products on our platform, including consumer and other loans, credit cards, and wealth management products.

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