Noah Holdings Ltd. (NOAH) Raised to “Strong-Buy” at Zacks Investment Research
Noah Holdings Ltd. (NYSE:NOAH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $52.00 target price on the asset manager’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.54% from the company’s current price.
According to Zacks, “Noah Holdings Ltd through its subsidiaries is engaged in providing independent services primarily comprising of distribution of wealth management products to the high net worth population in China. It distributes over-the-counter wealth management products originated in China which mainly includes fixed income products, private equity funds and securities investment funds. The Company also delivers to its clients a continuum of value-added services including financial planning, product analysis and recommendation, product and market updates and investor education. Noah Holdings Ltd is headquartered in Shenzhen, the Peoples’ Republic of China. “
Separately, BidaskClub downgraded Noah Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, October 23rd.
Noah Holdings (NOAH) opened at $47.04 on Thursday. Noah Holdings has a 1-year low of $21.33 and a 1-year high of $47.90. The company has a market capitalization of $2,660.00, a P/E ratio of 24.99 and a beta of 2.61.
Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new position in Noah Holdings during the 2nd quarter worth approximately $158,000. Aperio Group LLC acquired a new stake in shares of Noah Holdings during the 2nd quarter worth approximately $239,000. Airain ltd acquired a new stake in shares of Noah Holdings during the 2nd quarter worth approximately $245,000. APG Asset Management N.V. acquired a new stake in shares of Noah Holdings during the 3rd quarter worth approximately $249,000. Finally, Pictet Asset Management Ltd. acquired a new stake in shares of Noah Holdings during the 3rd quarter worth approximately $324,000. 43.42% of the stock is currently owned by institutional investors.
About Noah Holdings
Noah Holdings Limited is a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. The Company operates through three segments: wealth management, asset management and Internet finance. It also provides Internet finance services to clients in China.
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