Brokerages Set $29.00 Price Target for 360 Finance Inc (NASDAQ:QFIN)

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Shares of 360 Finance Inc (NASDAQ:QFIN) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price objective of $29.00 for the company, according to Zacks. Zacks has also given 360 Finance an industry rank of 171 out of 256 based on the ratings given to its competitors.

Several research analysts have weighed in on the company. Citigroup raised China Petroleum & Chemical from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 14th. China Renaissance Securities started coverage on 360 Finance in a report on Tuesday, May 14th. They set a “buy” rating and a $29.00 price objective on the stock.

Shares of QFIN stock opened at $11.26 on Tuesday. 360 Finance has a fifty-two week low of $9.90 and a fifty-two week high of $24.45. The business has a 50-day moving average price of $13.53.

360 Finance (NASDAQ:QFIN) last issued its earnings results on Monday, May 20th. The company reported $0.72 earnings per share for the quarter. The firm had revenue of $299.35 million during the quarter.

Several hedge funds and other institutional investors have recently modified their holdings of QFIN. FMR LLC boosted its stake in 360 Finance by 3.6% during the first quarter. FMR LLC now owns 1,061,095 shares of the company’s stock worth $16,447,000 after buying an additional 37,295 shares during the period. Millennium Management LLC purchased a new position in 360 Finance during the fourth quarter worth about $659,000. Finally, Citigroup Inc. purchased a new position in 360 Finance during the fourth quarter worth about $112,000. 0.76% of the stock is currently owned by institutional investors and hedge funds.

About 360 Finance

360 Finance, Inc operates a digital consumer finance platform in China. Its platform provides online consumer finance products to prime and underserved borrowers. The company was founded in 2016 and is headquartered in Shanghai, China.

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