How Does Wall Street Rate Shares Of OneConnect Financial Technology Co. Ltd. (OCFT)?

OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) saw a downside of -0.73% to close Friday at $4.07 after subtracting -$0.03 on the day. The 5-day average trading volume is 1,289,960 shares of the company’s common stock. It has gained $4.38 in the past week and touched a new high 1 time within the past 5 days. An average of 1,365,600 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,665,406.

OCFT’s 1-month performance is -13.40% or -$0.63 on its low of $3.86 reached on 09/30/21. The company’s shares have touched a 52-week low of $3.86 and high of $24.95, with the stock’s rally to the 52-week high happening on 01/14/21. YTD, OCFT has lost -79.35% or -$15.64 and has reached a new high 8 times. However, the current price is down -83.69%% from the 52-week high price.


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Valuation Metrics

OneConnect Financial Technology Co. Ltd. (OCFT) has a trailing price-to-earnings (P/E) ratio of 30.97 for the broader industry and 36.97 for the sector, meaning that investors are optimistic about the stock’s future prospects. OCFT stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.71 while the price-to-book (PB) in the most recent quarter is 2.16.

OneConnect Financial Technology Co. Ltd.’s quick ratio for the period ended June 29 was 1.70, with the current ratio over the same period at 1.70 meaning that OCFT stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.00, while the total debt to equity was 0.26. In terms of profitability, the gross margin trailing 12 months is 36.10%The trailing 12-month EBITDA margin is -33.44% while for the period ending June 29; OneConnect Financial Technology Co. Ltd.’s operating margin was -37.50%. The firm’s gross profit as reported stood at $180.18 million against revenue of $479.95 million.

The effectiveness of a company’s management is also important for investors when it comes to determining the potential profitability of the investment. OneConnect Financial Technology Co. Ltd.’s return on assets over the past 12 months stands at -12.60%. Return on investment over the past year is -17.50%, while its return on equity (ROE) trailing 12 months is -24.50%. In comparison, the average ROE for the broader industry over the past year is 4.90.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected OCFT to announce -$0.13 per share in earnings in its latest quarter, but it posted -$0.14, representing a -7.70% surprise. EBITDA for the quarter stood at more than -$61.24 million. OCFT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 674.21 million, with total debt at $1.16 billion

Technical Picture

Let’s look briefly at OneConnect Financial Technology Co. Ltd. (OCFT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 01 October was 41.22% to suggest the stock is trending Neutral, with historical volatility in this time period at 62.43%.

The stock’s 5-day moving average is $4.08, reflecting a -4.91% or -$0.21 change from its current price. OCFT is currently trading -14.32% above its 20-day SMA, -69.54% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -57.82% and -80.08% respectively.

Stochastic %K and %D was 19.47% and 15.82% and the average true range (ATR) pointed at 0.30. The RSI (14) points at 38.19%, while the 14-day stochastic is at 26.09% with the period’s ATR at 0.33. The stock’s 9-day MACD Oscillator is pointing at -0.15 and -0.18 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for OneConnect Financial Technology Co. Ltd. (NYSE: OCFT), Morgan Stanley downgraded it to an Equal-weight rating. They previously had an Overweight rating on the stock. Analysts offering their rating for OCFT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate OCFT as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 5 have offered a “buy” rating.

What is OCFT’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $5.20 and a high of $24.93, with their median price target at $8.80. Looking at these predictions, the average price target given by analysts is for OneConnect Financial Technology Co. Ltd. (OCFT) stock is $10.02.

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