LexinFintech (NASDAQ:LX) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of LexinFintech (NASDAQ:LX) from a strong sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “LexinFintech Holdings Ltd. is an online consumer finance platform for educated young adults primarily in China. The Company provide technologies including big data, cloud computing and artificial intelligence. LexinFintech Holdings Ltd. is based in China. “

Separately, UBS Group cut LexinFintech from a buy rating to a neutral rating and set a $4.30 price target on the stock. in a report on Monday, December 20th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $10.16.

NASDAQ LX opened at $3.49 on Wednesday. LexinFintech has a one year low of $3.35 and a one year high of $15.42. The stock has a 50-day moving average of $4.29 and a 200 day moving average of $6.24. The company has a market capitalization of $635.32 million, a price-to-earnings ratio of 1.79 and a beta of 0.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.62 and a current ratio of 1.63.

LexinFintech (NASDAQ:LX) last released its quarterly earnings results on Wednesday, November 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.14. LexinFintech had a return on equity of 38.73% and a net margin of 21.19%. The business had revenue of $460.75 million during the quarter. On average, equities analysts predict that LexinFintech will post 2.1 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of LexinFintech by 7.2% in the second quarter. Vanguard Group Inc. now owns 3,925,985 shares of the company’s stock valued at $48,094,000 after purchasing an additional 264,429 shares during the period. FMR LLC grew its holdings in LexinFintech by 0.6% during the first quarter. FMR LLC now owns 3,805,887 shares of the company’s stock worth $39,961,000 after acquiring an additional 23,831 shares during the period. FIL Ltd grew its holdings in LexinFintech by 2.9% during the third quarter. FIL Ltd now owns 3,067,707 shares of the company’s stock worth $18,069,000 after acquiring an additional 85,264 shares during the period. BlackRock Inc. grew its holdings in LexinFintech by 6.6% during the third quarter. BlackRock Inc. now owns 2,287,376 shares of the company’s stock worth $13,473,000 after acquiring an additional 141,690 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in LexinFintech by 8.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,710,709 shares of the company’s stock worth $10,067,000 after acquiring an additional 132,521 shares during the period. Hedge funds and other institutional investors own 24.22% of the company’s stock.

LexinFintech Company Profile

Lexinfintech Holdings Ltd. engages in the provision of online consumer finance platforms. Through its subsidiaries, it provides online direct sales with installment payment terms; installment purchase loans; and personal installment loans. Its services are offered though its online consumer finance platform, www.fenqile.com; and mobile application.

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Analyst Recommendations for LexinFintech (NASDAQ:LX)

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