Several other equities research analysts also recently commented on the stock. Bank of America upped their price objective on shares of LexinFintech from $21.00 to $22.00 and gave the company a buy rating in a report on Tuesday, September 3rd. TheStreet downgraded shares of LexinFintech from a c- rating to a d+ rating in a report on Friday, October 11th. Zacks Investment Research downgraded shares of LexinFintech from a buy rating to a hold rating in a report on Friday, October 4th. BOCOM International assumed coverage on shares of LexinFintech in a report on Thursday, October 10th. They set a buy rating and a $12.34 price objective on the stock. Finally, Credit Suisse Group assumed coverage on shares of LexinFintech in a report on Tuesday, October 8th. They set an outperform rating and a $17.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $15.32.
Shares of NASDAQ:LX opened at $10.82 on Friday. The company’s 50-day moving average is $10.35 and its 200 day moving average is $11.45. The company has a market capitalization of $1.87 billion, a P/E ratio of 6.76, a price-to-earnings-growth ratio of 0.45 and a beta of 1.97. LexinFintech has a fifty-two week low of $6.48 and a fifty-two week high of $14.66.
Several institutional investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. bought a new position in shares of LexinFintech in the second quarter worth approximately $28,000. American Beacon Advisors Inc. bought a new position in shares of LexinFintech in the second quarter worth approximately $33,000. Aperio Group LLC bought a new position in shares of LexinFintech in the second quarter worth approximately $46,000. Tower Research Capital LLC TRC bought a new position in shares of LexinFintech in the second quarter worth approximately $54,000. Finally, Royal Bank of Canada bought a new position in shares of LexinFintech in the second quarter worth approximately $56,000. 21.09% of the stock is currently owned by hedge funds and other institutional investors.
LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile.com, a retail and online consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms.
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