As of Friday close, Qifu Technology Inc.’s (NASDAQ:QFIN) stock was down -$0.29, moving down -1.78 percent to $15.96. The average number of shares traded per day over the past five days has been 1,027,780 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.74 fall in that time frame. In the last twenty days, the average volume was 949,525, while in the previous 50 days, it was 918,086.
Since last month, QFIN stock retreated -13.40%. Shares of the company fell to $15.66 on 08/18/23, the lowest level in the past month. A 52-week high of $25.49 was reached on 02/02/23 after having rallying from a 52-week low of $9.47. Since the beginning of this year, QFIN’s stock price has dropped by -21.61% or -$4.40, and marked a new high 6 times. However, the stock has declined by -37.39% since its 52-week high.
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Valuation Metrics
Right now, Qifu Technology Inc. (QFIN) has a P/E ratio of about 4.94. The stock’s beta is 0.58. Besides these, the trailing price-to-sales (P/S) ratio of 1.27, the price-to-book (PB) ratio of 0.95, and the price-to-cash flow ratio of 3.20 may also be considered.
The latest dividend of $0.16 per share was paid out, remained unchanged from last year’s $0.16. On Tuesday November 15 2022, a $0.02 dividend decrease was announced.
Financial Health
In the three months ended March 30, Qifu Technology Inc.’s quick ratio stood at 1.90, while its current ratio was 1.90, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 84.80% percent. In the year ended March 30, operating margins totaled 26.00%. Based on annual data, QFIN earned $2.06 billion in gross profit and brought in $2.4 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 19.70%. Return on equity (ROE) for the past 12 months was 20.60%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. QFIN’s revenue fell -8.77% during the quarter, while net income inched up to $2.4 billion. While analysts expected Qifu Technology Inc. to report $0.84 quarterly earnings, the actual figure was $0.83 per share, beating the consensus estimate by -1.20%. During the quarter, the company generated $169.79 million in EBITDA. The liabilities of Qifu Technology Inc. were 3.08 billion at the end of its most recent quarter ended March 30, and its total debt was $150.0 million.
Technical Picture
This quick technical analysis looks at Qifu Technology Inc.’s (QFIN) price momentum. With a historical volatility rate of 41.38%, the RSI 9-day stood at 30.09% on 18 August.
With respect to its five-day moving average, the current Qifu Technology Inc. price is down by -4.43% percent or -$0.74. At present, QFIN shares trade -12.98% below its 20-day simple moving average and -12.31% percent below its 100-day simple moving average. However, the stock is currently trading approximately +0.63% above its SMA50 and +57.09% above its SMA200.
Stochastic coefficient K was 7.33% and Stochastic coefficient D was 6.78%, while ATR was 0.75. Given the Stochastic reading of 7.61% for the 14-day period, the RSI (14) reading has been calculated as 36.12%. As of today, the MACD Oscillator reading stands at -0.74, while the 14-day reading stands at -1.19.
Analyst Ratings
BofA Securities launched its rating on Qifu Technology Inc. (NASDAQ: QFIN) to a Buy in a note to investors on July 06, 2023. Qifu Technology Inc. (QFIN) has been rated Buy by analysts. According to 0 brokerage firms, QFIN is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Qifu Technology Inc. stock as buy, with 12 recommending it as overweight.
With a median target price of $194.61, the current consensus forecast for the stock is $159.99 – $213.91. Based on these forecasts, analysts predict Qifu Technology Inc. (QFIN) will achieve an average price target of $191.73.
