Zacks Investment Research upgraded shares of Jianpu Technology (NYSE:JT) from a hold rating to a buy rating in a report published on Saturday, Zacks.com reports. The brokerage currently has $4.25 price target on the stock.
According to Zacks, “Jianpu Technology Inc. is an open platform for discovery and recommendation of financial products primarily in China. The Company offers loan applications, credit card services and sales and marketing solutions. It serves credit information providers, payment companies and e-commerce platforms. Jianpu Technology Inc. is based in Beijing, China. “
JT has been the subject of a number of other reports. Goldman Sachs Group lowered shares of Jianpu Technology from a buy rating to a neutral rating in a research note on Wednesday, June 26th. TheStreet lowered shares of Jianpu Technology from a c- rating to a d+ rating in a research note on Monday, July 22nd. Finally, ValuEngine raised shares of Jianpu Technology from a hold rating to a buy rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Jianpu Technology has an average rating of Buy and an average target price of $6.88.
Jianpu Technology (NYSE:JT) last posted its quarterly earnings data on Tuesday, May 28th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Jianpu Technology had a negative net margin of 3.95% and a negative return on equity of 5.41%. The company had revenue of $97.58 million during the quarter, compared to analyst estimates of $90.04 million. On average, equities analysts anticipate that Jianpu Technology will post 0.09 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in JT. Amundi Pioneer Asset Management Inc. acquired a new position in Jianpu Technology during the first quarter valued at approximately $40,000. Stevens Capital Management LP acquired a new position in Jianpu Technology during the second quarter valued at approximately $54,000. Hamilton Lane Advisors LLC acquired a new position in Jianpu Technology during the first quarter valued at approximately $529,000. Baillie Gifford & Co. grew its holdings in Jianpu Technology by 4.1% during the first quarter. Baillie Gifford & Co. now owns 3,871,919 shares of the company’s stock valued at $19,398,000 after purchasing an additional 152,199 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Jianpu Technology by 1.7% during the first quarter. Wells Fargo & Company MN now owns 7,451,711 shares of the company’s stock valued at $37,334,000 after purchasing an additional 128,100 shares during the last quarter. Hedge funds and other institutional investors own 16.56% of the company’s stock.
About Jianpu Technology
Jianpu Technology Inc operates a platform that provides online discovery and recommendation services for financial products in the People's Republic of China. Its platform allows users to access to financial products, including consumer and other loans, credit cards, and wealth management products.
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