360 DigiTech (NASDAQ:QFIN – Get Rating) had its price target lowered by equities research analysts at Citigroup from $35.15 to $26.78 in a note issued to investors on Monday, The Fly reports. Citigroup’s price target suggests a potential upside of 102.42% from the stock’s current price.
Other research analysts have also issued reports about the stock. CLSA boosted their price target on shares of 360 DigiTech from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, November 17th. Zacks Investment Research lowered shares of 360 DigiTech from a “buy” rating to a “hold” rating in a research note on Thursday, January 20th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $35.70.
Shares of NASDAQ:QFIN opened at $13.23 on Monday. The company has a 50-day simple moving average of $19.53 and a 200-day simple moving average of $21.33. 360 DigiTech has a one year low of $13.18 and a one year high of $45.00. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 2.42 and a beta of 0.66.
360 DigiTech (NASDAQ:QFIN – Get Rating) last announced its earnings results on Thursday, March 10th. The company reported $8.58 EPS for the quarter, beating analysts’ consensus estimates of $6.97 by $1.61. 360 DigiTech had a net margin of 36.42% and a return on equity of 48.21%. During the same period in the previous year, the business earned $1.18 earnings per share. On average, equities research analysts forecast that 360 DigiTech will post 5.55 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in 360 DigiTech by 197.9% during the third quarter. Goldman Sachs Group Inc. now owns 735,459 shares of the company’s stock worth $14,944,000 after buying an additional 488,541 shares during the period. Deutsche Bank AG grew its position in 360 DigiTech by 164.1% during the third quarter. Deutsche Bank AG now owns 350,005 shares of the company’s stock worth $7,111,000 after buying an additional 217,485 shares during the period. Victory Capital Management Inc. grew its position in 360 DigiTech by 63.8% during the third quarter. Victory Capital Management Inc. now owns 62,974 shares of the company’s stock worth $1,280,000 after buying an additional 24,532 shares during the period. Marshall Wace North America L.P. grew its position in 360 DigiTech by 22.3% during the second quarter. Marshall Wace North America L.P. now owns 20,795 shares of the company’s stock worth $870,000 after buying an additional 3,793 shares during the period. Finally, Maverick Capital Ltd. grew its position in 360 DigiTech by 37.9% during the third quarter. Maverick Capital Ltd. now owns 47,950 shares of the company’s stock worth $974,000 after buying an additional 13,180 shares during the period. Institutional investors own 48.85% of the company’s stock.
360 DigiTech Company Profile
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.