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

Qifu Technology (NASDAQ:QFIN) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

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

Qifu Technology Price Performance

QFIN stock opened at $42.81 on Friday. The business has a 50 day moving average price of $41.58 and a 200 day moving average price of $40.74. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 0.53 and a beta of 0.49. Qifu Technology has a fifty-two week low of $18.13 and a fifty-two week high of $48.94. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.21.

Qifu Technology (NASDAQ:QFIN) last posted its earnings results on Monday, May 19th. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.02. The firm had revenue of $646.19 million during the quarter, compared to analysts’ expectations of $4.61 billion. Qifu Technology had a return on equity of 29.73% and a net margin of 38.99%. Equities research analysts anticipate that Qifu Technology will post 5.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in Qifu Technology during the first quarter worth approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Qifu Technology during the first quarter worth approximately $29,000. GeoWealth Management LLC acquired a new position in Qifu Technology during the fourth quarter worth approximately $26,000. Jones Financial Companies Lllp acquired a new position in Qifu Technology during the fourth quarter worth approximately $29,000. Finally, Global Retirement Partners LLC increased its position in Qifu Technology by 80.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,164 shares of the company’s stock worth $45,000 after buying an additional 518 shares during the period. Institutional investors and hedge funds 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.