Qifu Technology Inc. ADR [NASDAQ: QFIN] gained 12.64% on the last trading session, reaching $18.36 price per share at the time. The company report on March 12, 2024 at 6:00 PM that Qifu Technology Announces Fourth Quarter and Full Year 2023 Unaudited Financial Results, Declares Semi-Annual Dividend and Announces a New Share Repurchase Plan.
Full Year 2023 Total Facilitation and Origination Loan Volume*1 of RMB475.8 BillionFull Year 2023 Net Income of RMB4.3 Billion and Non-GAAP*2 Net Income of RMB4.5 BillionEstimated US$170 Million Cash Dividends for Full Year 2023*3 and Approximately US$132 Million Aggregate Value of ADSs Repurchased*4 Since the Launch of the Share Repurchase Plan in June 2023Announce A New US$350 Million Share Repurchase Plan and Reaffirm Existing Semi-Annual Dividend Policy.
If compared to the average trading volume of 865.74K shares, QFIN reached a trading volume of 4539357 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Qifu Technology Inc. ADR [QFIN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QFIN shares is $21.91 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on QFIN stock is a recommendation set at 1.18. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Nomura have made an estimate for Qifu Technology Inc. ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 18, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on July 06, 2023, representing the official price target for Qifu Technology Inc. ADR stock. Previously, the target price had yet another raise to $20.80, while China Renaissance analysts kept a Buy rating on QFIN stock.
The Average True Range (ATR) for Qifu Technology Inc. ADR is set at 0.79, with the Price to Sales ratio for QFIN stock in the period of the last 12 months amounting to 1.30. The Price to Book ratio for the last quarter was 1.04, with the Price to Cash per share for the same quarter was set at 6.56.
Trading performance analysis for QFIN stock
Qifu Technology Inc. ADR [QFIN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.53. With this latest performance, QFIN shares gained by 23.64% in over the last four-week period, additionally plugging by 16.94% over the last 6 months – not to mention a rise of 7.37% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QFIN stock in for the last two-week period is set at 74.15, with the RSI for the last a single of trading hit 79.92, and the three-weeks RSI is set at 69.37 for Qifu Technology Inc. ADR [QFIN]. The present Moving Average for the last 50 days of trading for this stock 15.03, while it was recorded at 16.10 for the last single week of trading, and 15.85 for the last 200 days.
Qifu Technology Inc. ADR [QFIN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Qifu Technology Inc. ADR posted 0.83/share EPS, while the average EPS was predicted by analysts to be reported at 0.84/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for QFIN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Qifu Technology Inc. ADR go to 2.60%.
An analysis of Institutional ownership at Qifu Technology Inc. ADR [QFIN]
The top three institutional holders of QFIN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in QFIN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in QFIN stock with ownership which is approximately 5.8325%.
