Qudian (NYSE:QD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday, Zacks.com reports. The brokerage currently has a $10.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 19.62% from the stock’s previous close.

According to Zacks, “Qudian Inc. provides online consumer finance platforms primarily in the Peoples Republic of China. The Company offers cash credit products which include funds in digital form and merchandise credit products. Qudian Inc. is headquartered in Beijing, China. “

Several other equities research analysts have also recently commented on QD. TheStreet cut shares of WCF Bancorp from a “c” rating to a “d+” rating in a research report on Thursday, April 18th. Morgan Stanley raised shares of Qudian from an “equal weight” rating to an “overweight” rating and set a $7.00 target price for the company in a research report on Monday, April 8th. ValuEngine raised shares of XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, China Renaissance Securities initiated coverage on shares of 360 Finance in a research report on Tuesday, May 14th. They issued a “buy” rating and a $29.00 target price for the company. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $13.60.

NYSE:QD opened at $8.36 on Thursday. The stock has a 50-day moving average of $7.58. Qudian has a 12 month low of $4.00 and a 12 month high of $9.15. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.91 and a current ratio of 2.91. The stock has a market cap of $2.89 billion, a PE ratio of 5.87 and a beta of 1.63.

Qudian (NYSE:QD) last posted its earnings results on Monday, May 20th. The company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.10. Qudian had a net margin of 38.69% and a return on equity of 28.87%. The firm had revenue of $312.44 million during the quarter. On average, equities research analysts expect that Qudian will post 2.16 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC increased its stake in Qudian by 30.5% during the 1st quarter. Virtu Financial LLC now owns 28,628 shares of the company’s stock valued at $145,000 after purchasing an additional 6,695 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in Qudian during the 1st quarter valued at about $28,000. Norges Bank bought a new stake in Qudian during the 4th quarter valued at about $2,036,000. River & Mercantile Asset Management LLP increased its stake in Qudian by 35.0% during the 4th quarter. River & Mercantile Asset Management LLP now owns 437,440 shares of the company’s stock valued at $1,870,000 after purchasing an additional 113,400 shares in the last quarter. Finally, Ayalon Holdings Ltd. increased its stake in Qudian by 34.5% during the 1st quarter. Ayalon Holdings Ltd. now owns 23,411 shares of the company’s stock valued at $121,000 after purchasing an additional 6,011 shares in the last quarter. 11.84% of the stock is owned by institutional investors.

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 small credit products, such as cash credit products; merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis; and budget auto financing products.

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