Qiwi Plc (NASDAQ:QIWI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “QIWI plc operates as a provider of next generation payment services primarily in Russia and the CIS. The Company has an integrated network that enables payment services across physical, online and mobile channels. It enables merchants to accept cash and electronic payments from virtual wallets, and operates cash-collecting terminals and kiosks. QIWI plc is based in Moscow, the Russian Federation. “

Several other brokerages have also recently weighed in on QIWI. VTB Capital cut shares of Qiwi Plc from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Monday, June 19th. BidaskClub raised shares of Qiwi Plc from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 15th. ValuEngine raised shares of Qiwi Plc from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. cut shares of Qiwi Plc from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Qiwi Plc currently has an average rating of “Hold” and a consensus price target of $23.25.

Qiwi Plc (NASDAQ QIWI) opened at 18.55 on Tuesday. Qiwi Plc has a 1-year low of $11.60 and a 1-year high of $26.55.

Qiwi Plc (NASDAQ:QIWI) last issued its quarterly earnings data on Wednesday, May 17th. The credit services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.13. Qiwi Plc had a net margin of 14.27% and a return on equity of 23.38%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter in the previous year, the firm posted $20.41 earnings per share. Qiwi Plc’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts predict that Qiwi Plc will post $1.17 earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of QIWI. Advisors Preferred LLC purchased a new stake in shares of Qiwi Plc during the first quarter worth approximately $143,000. KCG Holdings Inc. purchased a new stake in shares of Qiwi Plc during the first quarter worth approximately $200,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Qiwi Plc during the second quarter worth approximately $201,000. Quantbot Technologies LP boosted its stake in shares of Qiwi Plc by 141.4% in the first quarter. Quantbot Technologies LP now owns 11,982 shares of the credit services provider’s stock worth $205,000 after buying an additional 7,018 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Qiwi Plc during the first quarter worth approximately $221,000. 16.76% of the stock is currently owned by institutional investors and hedge funds.

About Qiwi Plc

QIWI plc is a provider of payment services in Russia and the Commonwealth of Independent States (CIS). The Company’s network enables payment services across physical, online and mobile channels. The Company operates in target markets and customer segments. As of December 31, 2016, the Company had deployed over 17.2 million virtual wallets, over 162,000 kiosks and terminals, and enabled merchants to accept over Russian rubles 70 billion cash and electronic payments monthly.

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