Qifu Technology (NASDAQ:QFIN) Price Target Raised to $37.50

Qifu Technology (NASDAQ:QFIN) had its price target increased by Citigroup from $31.44 to $37.50 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Qifu Technology Trading Down 1.9 %

Shares of NASDAQ QFIN opened at $34.53 on Thursday. Qifu Technology has a 12-month low of $13.71 and a 12-month high of $35.44. The stock has a market cap of $5.57 billion, a PE ratio of 6.99, a P/E/G ratio of 0.32 and a beta of 0.61. The company has a 50-day moving average of $31.43 and a 200 day moving average of $24.75.

Institutional Trading of Qifu Technology

Large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in Qifu Technology by 148.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,343 shares of the company’s stock valued at $24,454,000 after acquiring an additional 489,865 shares in the last quarter. AQR Capital Management LLC acquired a new position in Qifu Technology in the 2nd quarter valued at about $25,560,000. Hsbc Holdings PLC boosted its holdings in Qifu Technology by 9.8% in the 2nd quarter. Hsbc Holdings PLC now owns 424,904 shares of the company’s stock valued at $8,377,000 after purchasing an additional 37,948 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Qifu Technology by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 4,651,879 shares of the company’s stock valued at $85,734,000 after purchasing an additional 30,522 shares during the last quarter. Finally, Dorsey Wright & Associates acquired a new position in Qifu Technology in the 2nd quarter valued at about $2,293,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

About Qifu Technology

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.