Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Joint Stock Company Kaspi.kz Sponsored ADR (NASDAQ:KSPI) saw strong trading volume on Wednesday after The Goldman Sachs Group upgraded the stock from a neutral rating to a buy rating. The Goldman Sachs Group now has a $107.00 price target on the stock. 958,625 shares traded hands during trading, an increase of 188% from the previous session’s volume of 333,315 shares.The stock last traded at $78.48 and had previously closed at $76.85.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $96.00 price objective on shares of Joint Stock Company Kaspi.kz in a report on Wednesday, August 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Joint Stock Company Kaspi.kz in a report on Saturday, September 27th. Finally, Zacks Research raised shares of Joint Stock Company Kaspi.kz from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $118.25.

Hedge Funds Weigh In On Joint Stock Company Kaspi.kz

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in Joint Stock Company Kaspi.kz during the first quarter valued at $110,000. Renaissance Capital LLC lifted its holdings in Joint Stock Company Kaspi.kz by 6.7% during the second quarter. Renaissance Capital LLC now owns 65,635 shares of the company’s stock valued at $5,572,000 after purchasing an additional 4,111 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Joint Stock Company Kaspi.kz by 24.8% in the first quarter. Driehaus Capital Management LLC now owns 40,075 shares of the company’s stock valued at $3,721,000 after buying an additional 7,951 shares during the last quarter. Flossbach Von Storch SE raised its position in shares of Joint Stock Company Kaspi.kz by 66.7% in the first quarter. Flossbach Von Storch SE now owns 25,000 shares of the company’s stock valued at $2,321,000 after buying an additional 10,000 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Joint Stock Company Kaspi.kz by 70.1% in the second quarter. SG Americas Securities LLC now owns 28,637 shares of the company’s stock valued at $2,431,000 after buying an additional 11,805 shares during the last quarter. 32.20% of the stock is owned by hedge funds and other institutional investors.

Joint Stock Company Kaspi.kz Price Performance

The stock’s 50-day moving average price is $87.81 and its 200 day moving average price is $86.40. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 7.09 and a beta of 0.95. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.03.

About Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in the Republic of Kazakhstan. It operates through three segments: Payments Platform, Marketplace Platform, and Fintech Platform. The Payments Platform segment facilities transactions between customers and merchants.