Qudian (NYSE:QD) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports. The firm currently has a $7.00 price target on the stock. Morgan Stanley’s target price indicates a potential upside of 29.39% from the company’s current price.

Other research analysts have also issued research reports about the company. ValuEngine upgraded Qudian from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Nomura restated a “neutral” rating on shares of Qudian in a research note on Wednesday, February 27th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $15.75.

Shares of NYSE QD opened at $5.41 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.72 and a debt-to-equity ratio of 0.04. Qudian has a 52-week low of $4.00 and a 52-week high of $12.26. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 4.58 and a beta of 1.47.

Qudian (NYSE:QD) last posted its earnings results on Monday, March 18th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.05. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.83 billion. Qudian had a return on equity of 23.87% and a net margin of 32.10%. The business’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share.

Several hedge funds have recently added to or reduced their stakes in QD. BlackRock Inc. lifted its stake in shares of Qudian by 26.3% in the 3rd quarter. BlackRock Inc. now owns 2,507,400 shares of the company’s stock valued at $13,064,000 after purchasing an additional 521,560 shares during the last quarter. Credit Suisse AG boosted its holdings in shares of Qudian by 943.9% in the 3rd quarter. Credit Suisse AG now owns 594,767 shares of the company’s stock worth $3,099,000 after purchasing an additional 537,794 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Qudian in the 3rd quarter worth approximately $210,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Qudian during the 3rd quarter valued at approximately $182,000. Finally, Jane Street Group LLC increased its position in shares of Qudian by 666.7% during the 3rd quarter. Jane Street Group LLC now owns 109,007 shares of the company’s stock valued at $568,000 after purchasing an additional 94,789 shares during the last quarter. 6.40% of the stock is currently owned by institutional investors and hedge funds.

About Qudian

Qudian Inc provides online small consumer credit products in the People's Republic of China. It uses big data-enabled technologies, including artificial intelligence and machine learning to transform the consumer finance experience. The company offers cash credit products, such as cash short-term unsecured lines of credit, which are distributed in digital form; and merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis, as well as budget auto financing products.

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Analyst Recommendations for Qudian (NYSE:QD)

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