Citigroup Issues Positive Forecast for Qifu Technology (NASDAQ:QFIN) Stock Price

Qifu Technology (NASDAQ:QFIN) had its price target boosted by equities research analysts at Citigroup from $31.44 to $37.50 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 7.11% from the company’s current price.

Qifu Technology Price Performance

Shares of QFIN stock traded down $0.24 during trading hours on Thursday, reaching $35.01. 267,527 shares of the stock were exchanged, compared to its average volume of 1,295,609. Qifu Technology has a 12-month low of $13.71 and a 12-month high of $35.44. The firm has a market capitalization of $5.65 billion, a P/E ratio of 7.09, a P/E/G ratio of 0.44 and a beta of 0.61. The business’s fifty day moving average is $31.03 and its two-hundred day moving average is $24.58.

Institutional Investors Weigh In On Qifu Technology

Several institutional investors have recently added to or reduced their stakes in QFIN. Ashton Thomas Private Wealth LLC purchased a new stake in Qifu Technology in the second quarter valued at approximately $31,000. Blue Trust Inc. lifted its position in shares of Qifu Technology by 598.4% during the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock valued at $32,000 after acquiring an additional 1,484 shares during the period. USA Financial Formulas acquired a new stake in shares of Qifu Technology during the 3rd quarter valued at approximately $41,000. Point72 DIFC Ltd acquired a new position in shares of Qifu Technology during the 3rd quarter worth approximately $43,000. Finally, Venturi Wealth Management LLC purchased a new stake in Qifu Technology in the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Qifu Technology Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, 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.