Zacks Investment Research Downgrades Qiwi (NASDAQ:QIWI) to Hold

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Qiwi (NASDAQ:QIWI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “QIWI plc operates as a provider of next generation payment services primarily in Russia and the CIS. The Company has an integrated network that enables payment services across physical, online and mobile channels. It enables merchants to accept cash and electronic payments from virtual wallets, and operates cash-collecting terminals and kiosks. QIWI plc is based in Moscow, the Russian Federation. “

A number of other research firms have also issued reports on QIWI. ValuEngine raised Qiwi from a “strong sell” rating to a “sell” rating in a report on Tuesday. JPMorgan Chase & Co. raised Qiwi from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $20.00 in a report on Thursday, May 16th. Finally, BidaskClub raised Qiwi from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Qiwi presently has a consensus rating of “Hold” and an average target price of $23.00.

NASDAQ QIWI opened at $22.96 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.30 and a debt-to-equity ratio of 0.02. Qiwi has a 52-week low of $11.61 and a 52-week high of $24.40. The business’s 50-day moving average price is $20.47 and its 200 day moving average price is $16.80. The firm has a market cap of $1.40 billion, a P/E ratio of 23.92 and a beta of 1.14.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Qiwi by 0.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,371,447 shares of the credit services provider’s stock valued at $27,456,000 after purchasing an additional 6,553 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Qiwi by 159.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,309,778 shares of the credit services provider’s stock valued at $25,635,000 after purchasing an additional 804,753 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Qiwi by 62.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,271,138 shares of the credit services provider’s stock valued at $24,876,000 after purchasing an additional 486,758 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Qiwi by 3.9% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 924,175 shares of the credit services provider’s stock valued at $18,086,000 after purchasing an additional 34,800 shares in the last quarter. Finally, ETF Managers Group LLC boosted its holdings in Qiwi by 247.1% in the 2nd quarter. ETF Managers Group LLC now owns 607,652 shares of the credit services provider’s stock valued at $12,165,000 after purchasing an additional 432,562 shares in the last quarter. 27.36% of the stock is currently owned by institutional investors.

Qiwi Company Profile

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 offers payment services across online, mobile, and physical channels through a network of approximately 109,000 kiosks and 43,000 terminals that run its proprietary software.

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