Qfin (NASDAQ:QFIN) Lowered to Neutral Rating by JPMorgan Chase & Co.

Qfin (NASDAQ:QFIN) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat.com reports. They presently have a $21.00 target price on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 6.78% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings cut shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Qfin currently has a consensus rating of “Hold” and a consensus price target of $37.07.

Qfin Stock Performance

NASDAQ QFIN opened at $19.67 on Wednesday. The firm has a market capitalization of $2.79 billion, a P/E ratio of 2.77, a PEG ratio of 0.23 and a beta of 0.39. The stock has a 50-day simple moving average of $26.50 and a two-hundred day simple moving average of $34.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.48 and a current ratio of 3.48. Qfin has a fifty-two week low of $18.66 and a fifty-two week high of $48.94.

Qfin (NASDAQ:QFIN) last posted its earnings results on Tuesday, November 18th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.16). The company had revenue of $731.04 million for the quarter, compared to analyst estimates of $693.21 million. Qfin had a return on equity of 30.74% and a net margin of 38.66%. On average, equities analysts forecast that Qfin will post 5.71 earnings per share for the current year.

Hedge Funds Weigh In On Qfin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QFIN. SVB Wealth LLC acquired a new stake in shares of Qfin in the first quarter valued at about $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Qfin in the 1st quarter worth about $29,000. Hantz Financial Services Inc. increased its stake in Qfin by 472.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock worth $32,000 after buying an additional 610 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Qfin during the second quarter valued at approximately $33,000. Finally, iA Global Asset Management Inc. raised its holdings in shares of Qfin by 250.2% during the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after acquiring an additional 588 shares during the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qfin 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.