Qifu Technology (NASDAQ:QFIN) Given New $37.50 Price Target at Citigroup

Qifu Technology (NASDAQ:QFIN) had its price target hoisted by Citigroup from $31.44 to $37.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 7.11% from the stock’s current price.

Qifu Technology Price Performance

NASDAQ:QFIN traded down $0.24 during midday trading on Thursday, reaching $35.01. The stock had a trading volume of 267,527 shares, compared to its average volume of 1,295,609. Qifu Technology has a 1-year low of $13.71 and a 1-year high of $35.44. The firm’s fifty day simple moving average is $31.03 and its 200-day simple moving average is $24.58. The stock has a market capitalization of $5.65 billion, a P/E ratio of 7.09, a PEG ratio of 0.44 and a beta of 0.61.

Institutional Investors Weigh In On Qifu Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Qifu Technology by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock worth $38,866,000 after buying an additional 41,139 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Qifu Technology during the third quarter worth approximately $8,487,000. Dorsey Wright & Associates raised its stake in shares of Qifu Technology by 13.4% during the third quarter. Dorsey Wright & Associates now owns 131,812 shares of the company’s stock worth $3,929,000 after buying an additional 15,585 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Qifu Technology by 9.1% during the third quarter. XTX Topco Ltd now owns 11,913 shares of the company’s stock worth $355,000 after buying an additional 997 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Qifu Technology by 20.9% during the third quarter. National Bank of Canada FI now owns 214,910 shares of the company’s stock worth $6,406,000 after buying an additional 37,110 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.