Qifu Technology (NASDAQ:QFIN) Price Target Raised to $37.50

Qifu Technology (NASDAQ:QFIN) had its price target upped by Citigroup from $31.44 to $37.50 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Qifu Technology Price Performance

Qifu Technology stock opened at $34.53 on Thursday. The business has a 50 day simple moving average of $31.43 and a 200 day simple moving average of $24.79. Qifu Technology has a one year low of $13.71 and a one year high of $35.44. The company has a market capitalization of $5.57 billion, a PE ratio of 6.99, a price-to-earnings-growth ratio of 0.32 and a beta of 0.61.

Hedge Funds Weigh In On Qifu Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Qifu Technology in the 2nd quarter worth approximately $31,000. Blue Trust Inc. boosted its stake in Qifu Technology by 598.4% in the second quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock worth $32,000 after purchasing an additional 1,484 shares in the last quarter. USA Financial Formulas acquired a new position in Qifu Technology in the third quarter worth $41,000. Point72 DIFC Ltd bought a new stake in shares of Qifu Technology during the third quarter worth $43,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Qifu Technology in the third quarter valued at $54,000. 74.81% of the stock is currently owned by institutional investors and hedge funds.

About Qifu Technology

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.