Yirendai (NYSE:YRD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, November 17th. The brokerage currently has a $46.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 22.86% from the stock’s current price.
According to Zacks, “Yirendai Ltd. is involved in the online consumer finance business. Yirendai Ltd. is based in Beijing, China. “
Several other analysts have also recently commented on the company. Needham & Company LLC raised their target price on Yirendai from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Citigroup started coverage on Yirendai in a report on Tuesday, November 14th. They set a “buy” rating for the company. Macquarie initiated coverage on Yirendai in a report on Tuesday, November 14th. They set an “outperform” rating and a $60.00 price objective for the company. Finally, ValuEngine lowered Yirendai from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 3rd. Five equities research analysts have rated the stock with a buy rating, Yirendai currently has a consensus rating of “Buy” and a consensus target price of $52.00.
Yirendai (NYSE:YRD) last issued its quarterly earnings results on Tuesday, November 14th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.04). The firm had revenue of $227.50 million for the quarter, compared to analyst estimates of $201.27 million. Yirendai had a net margin of 27.09% and a return on equity of 70.10%. The firm’s revenue for the quarter was up 73.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. research analysts expect that Yirendai will post 3.15 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Yirendai by 2,216.1% in the third quarter. JPMorgan Chase & Co. now owns 3,173 shares of the technology company’s stock worth $137,000 after purchasing an additional 3,036 shares during the period. Rehmann Capital Advisory Group bought a new position in shares of Yirendai in the third quarter worth about $205,000. Peregrine Asset Advisers Inc. bought a new position in shares of Yirendai in the third quarter worth about $252,000. Invictus RG bought a new position in shares of Yirendai in the third quarter worth about $268,000. Finally, Bank of America Corp DE increased its stake in shares of Yirendai by 24.5% in the first quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock worth $192,000 after purchasing an additional 1,504 shares during the period. Institutional investors and hedge funds own 8.83% of the company’s stock.
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Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.
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