Wall Street Zen upgraded shares of Qifu Technology (NASDAQ:QFIN – Free Report) from a buy rating to a strong-buy rating in a research note published 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 report on Wednesday, March 26th.
Read Our Latest Analysis on Qifu Technology
Qifu Technology Stock Performance
Qifu Technology (NASDAQ:QFIN – Get Free Report) last issued its 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 net margin of 38.99% and a return on equity of 29.73%. The firm had revenue of $646.19 million during the quarter, compared to the consensus estimate of $4.61 billion. As a group, sell-side analysts expect that Qifu Technology will post 5.71 earnings per share for the current year.
Institutional Investors Weigh In On Qifu Technology
Large investors have recently made changes to their positions in the stock. Yousif Capital Management LLC bought a new stake in shares of Qifu Technology during the first quarter worth $209,000. Raymond James Financial Inc. bought a new position in Qifu Technology during the 4th quarter worth about $298,000. Ameriprise Financial Inc. increased its holdings in Qifu Technology by 36.4% during the 4th quarter. Ameriprise Financial Inc. now owns 24,365 shares of the company’s stock worth $935,000 after purchasing an additional 6,505 shares in the last quarter. Myriad Asset Management US LP bought a new position in shares of Qifu Technology during the first quarter worth about $2,314,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Qifu Technology by 4,272.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 7,302 shares of the company’s stock worth $280,000 after buying an additional 7,135 shares in the last quarter. Institutional investors own 74.81% of the company’s stock.
Qifu Technology Company Profile
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.
Recommended Stories
- Five stocks we like better than Qifu Technology
- How to Profit From Value Investing
- Microsoft Stock Holds Steady as AI Drives Workforce Shift
- 3 Warren Buffett Stocks to Buy Now
- D-Wave Goes International With South Korea Partnership
- 3 REITs to Buy and Hold for the Long Term
- Payment Giants Slide on Stablecoin Buzz—Is Now the Time to Buy?
Receive News & Ratings for Qifu Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qifu Technology and related companies with MarketBeat.com's FREE daily email newsletter.