Qfin (NASDAQ:QFIN) Announces Earnings Results, Misses Expectations By $0.16 EPS

Qfin (NASDAQ:QFIN) posted its earnings results on Tuesday. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.16), Zacks reports. Qfin had a net margin of 38.66% and a return on equity of 30.74%. The firm had revenue of $731.04 million during the quarter, compared to the consensus estimate of $693.21 million.

Qfin Stock Performance

Shares of Qfin stock opened at $22.42 on Wednesday. The business has a 50-day moving average price of $26.50 and a two-hundred day moving average price of $34.47. Qfin has a 1-year low of $20.45 and a 1-year high of $48.94. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.18 billion, a P/E ratio of 3.17, a PEG ratio of 0.23 and a beta of 0.39.

Institutional Investors Weigh In On Qfin

Large investors have recently added to or reduced their stakes in the business. Prelude Capital Management LLC boosted its stake in Qfin by 138.6% during the third quarter. Prelude Capital Management LLC now owns 11,931 shares of the company’s stock worth $343,000 after acquiring an additional 6,931 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Qfin by 5.4% during the third quarter. Ameriprise Financial Inc. now owns 34,574 shares of the company’s stock valued at $995,000 after purchasing an additional 1,780 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Qfin during the 3rd quarter worth about $1,248,000. Amundi acquired a new stake in shares of Qfin in the 3rd quarter valued at about $371,000. Finally, Qtron Investments LLC raised its stake in Qfin by 29.0% during the 3rd quarter. Qtron Investments LLC now owns 14,929 shares of the company’s stock worth $430,000 after buying an additional 3,356 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen downgraded Qfin from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Zacks Research downgraded shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings lowered shares of Qfin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.73.

Qfin 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.