Qiwi (QIWI) Upgraded to “Buy” by UBS

UBS upgraded shares of Qiwi (NASDAQ:QIWI) from a neutral rating to a buy rating in a research report sent to investors on Thursday, www.benzinga.com reports. UBS currently has $25.00 price objective on the credit services provider’s stock.

Other equities research analysts have also issued research reports about the company. BidaskClub raised Qiwi from a hold rating to a buy rating in a research report on Thursday, March 15th. Zacks Investment Research raised Qiwi from a sell rating to a hold rating in a research report on Saturday, March 10th. Finally, ValuEngine raised Qiwi from a buy rating to a strong-buy rating in a research report on Wednesday, March 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $25.00.

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Shares of Qiwi stock opened at $18.49 on Thursday. Qiwi has a 52-week low of $13.66 and a 52-week high of $26.55. The company has a market capitalization of $830.24, a P/E ratio of 17.44 and a beta of 2.71.

Qiwi (NASDAQ:QIWI) last announced its earnings results on Wednesday, March 28th. The credit services provider reported $10.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $10.35. Qiwi had a return on equity of 18.36% and a net margin of 15.11%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the firm earned $15.43 EPS. Qiwi’s revenue for the quarter was up 45.9% compared to the same quarter last year. equities analysts expect that Qiwi will post 1.08 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Invictus RG acquired a new position in shares of Qiwi during the 4th quarter worth approximately $215,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Qiwi during the 3rd quarter worth approximately $245,000. Cubist Systematic Strategies LLC acquired a new position in shares of Qiwi during the 3rd quarter worth approximately $268,000. Standard Life Aberdeen plc increased its position in shares of Qiwi by 24.2% during the 4th quarter. Standard Life Aberdeen plc now owns 28,700 shares of the credit services provider’s stock worth $497,000 after purchasing an additional 5,600 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Qiwi by 19.4% during the 2nd quarter. Northern Trust Corp now owns 20,283 shares of the credit services provider’s stock worth $501,000 after purchasing an additional 3,296 shares during the last quarter. 26.30% of the stock is currently owned by institutional investors and hedge funds.

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About Qiwi

Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. The company provides payment services across physical, online, and mobile channels through a network of approximately 113,000 kiosks and 49,000 terminals that run its proprietary software.

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