Citigroup Cuts 360 DigiTech (NASDAQ:QFIN) Price Target to $25.39

360 DigiTech (NASDAQ:QFINGet Rating) had its price target dropped by stock analysts at Citigroup from $26.78 to $25.39 in a note issued to investors on Thursday, The Fly reports. Citigroup’s price objective indicates a potential upside of 86.69% from the stock’s previous close.

Separately, Zacks Investment Research downgraded shares of 360 DigiTech from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $35.35.

NASDAQ QFIN opened at $13.60 on Thursday. 360 DigiTech has a 1 year low of $11.15 and a 1 year high of $45.00. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 2.44 and a beta of 0.61. The stock’s fifty day moving average price is $14.58 and its 200 day moving average price is $18.63.

360 DigiTech (NASDAQ:QFINGet Rating) last posted its earnings results on Tuesday, May 24th. The company reported $7.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.29 by $0.39. 360 DigiTech had a net margin of 34.73% and a return on equity of 43.82%. During the same quarter last year, the company posted $1.28 EPS. As a group, sell-side analysts predict that 360 DigiTech will post 4.41 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in QFIN. Yunqi Capital Ltd acquired a new stake in shares of 360 DigiTech during the 4th quarter worth approximately $77,003,000. Morgan Stanley boosted its position in shares of 360 DigiTech by 37.7% during the 3rd quarter. Morgan Stanley now owns 11,910,305 shares of the company’s stock worth $242,018,000 after purchasing an additional 3,259,304 shares during the period. Norges Bank purchased a new position in shares of 360 DigiTech during the 4th quarter worth approximately $50,984,000. TT International Asset Management LTD boosted its position in shares of 360 DigiTech by 36.5% during the 3rd quarter. TT International Asset Management LTD now owns 7,922,461 shares of the company’s stock worth $160,984,000 after purchasing an additional 2,119,440 shares during the period. Finally, Aspex Management HK Ltd boosted its position in shares of 360 DigiTech by 20.6% during the 1st quarter. Aspex Management HK Ltd now owns 10,956,676 shares of the company’s stock worth $168,623,000 after purchasing an additional 1,871,646 shares during the period. Institutional investors and hedge funds own 48.85% of the company’s stock.

About 360 DigiTech (Get Rating)

360 DigiTech, Inc, through its subsidiaries, operates financial technology platform under the 360 Jietiao brand in the People's Republic of China. The company provides credit-driven services that matches borrowers with financial institution partners enabling financial institution partners to conduct customer acquisition, initial credit screening, advanced risk assessment, collection, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.

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