Analysts Set 360 DigiTech, Inc. (NASDAQ:QFIN) PT at $31.50

Shares of 360 DigiTech, Inc. (NASDAQ:QFIN) have been given an average rating of “Buy” by the six analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $31.50.

Several brokerages have recently issued reports on QFIN. Morgan Stanley lifted their target price on shares of 360 DigiTech from $47.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, June 14th. CLSA decreased their price target on shares of 360 DigiTech from $39.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, August 2nd. Zacks Investment Research downgraded shares of 360 DigiTech from a “buy” rating to a “hold” rating in a research note on Tuesday, August 17th. TheStreet downgraded shares of 360 DigiTech from a “b-” rating to a “c” rating in a research note on Monday, July 19th. Finally, Citigroup decreased their price target on shares of 360 DigiTech from $43.67 to $24.99 and set a “buy” rating on the stock in a research note on Monday, August 23rd.

Shares of NASDAQ QFIN traded up $0.55 during trading on Friday, hitting $21.48. The company had a trading volume of 33,126 shares, compared to its average volume of 3,341,387. The stock has a fifty day simple moving average of $22.79 and a two-hundred day simple moving average of $27.43. 360 DigiTech has a fifty-two week low of $9.67 and a fifty-two week high of $45.00. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 4.09 and a beta of 0.54.

360 DigiTech (NASDAQ:QFIN) last announced its earnings results on Wednesday, August 18th. The company reported $10.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $7.52 by $2.51. 360 DigiTech had a net margin of 36.45% and a return on equity of 51.83%. The business had revenue of $619.76 million for the quarter. Sell-side analysts predict that 360 DigiTech will post 5.21 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in QFIN. Quadrant Capital Group LLC raised its position in 360 DigiTech by 2,076.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 740 shares of the company’s stock valued at $31,000 after purchasing an additional 706 shares during the last quarter. IFP Advisors Inc raised its position in 360 DigiTech by 400.0% during the 2nd quarter. IFP Advisors Inc now owns 1,000 shares of the company’s stock worth $42,000 after buying an additional 800 shares during the last quarter. New York State Common Retirement Fund purchased a new position in 360 DigiTech during the 2nd quarter worth $42,000. regents capital Ltd purchased a new position in 360 DigiTech during the 1st quarter worth $88,000. Finally, Strategic Blueprint LLC purchased a new position in 360 DigiTech during the 2nd quarter worth $88,000. Hedge funds and other institutional investors own 49.30% of the company’s stock.

About 360 DigiTech

360 DigiTech, Inc is a holding company, which engages in the provision of digital consumer finance platform. It provides tailored online consumer finance products to prime, underserved borrowers funded primarily by its funding partners. The company proprietary technology platform supports full transaction lifecycle from credit application through settlement.

See Also: Quick Ratio

Receive News & Ratings for 360 DigiTech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 360 DigiTech and related companies with MarketBeat.com's FREE daily email newsletter.