Qifu Technology, Inc. (QFIN - Free Report) closed the latest trading day at $17.84, indicating a -0.22% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.58% for the day. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 1.15%.
The company's stock has dropped by 3.19% in the past month, exceeding the Business Services sector's loss of 4.36% and lagging the S&P 500's loss of 1.09%.
The investment community will be closely monitoring the performance of Qifu Technology, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at $1.08, signifying a 31.71% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $598.92 million, up 14.28% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.21 per share and revenue of $2.3 billion, which would represent changes of +14.4% and +0.64%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Qifu Technology, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Qifu Technology, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
With respect to valuation, Qifu Technology, Inc. is currently being traded at a Forward P/E ratio of 4.25. This represents a discount compared to its industry's average Forward P/E of 22.36.
Also, we should mention that QFIN has a PEG ratio of 0.43. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Technology Services stocks are, on average, holding a PEG ratio of 1.6 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Qifu Technology, Inc. (QFIN - Free Report) closed the latest trading day at $17.84, indicating a -0.22% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.58% for the day. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 1.15%.
The company's stock has dropped by 3.19% in the past month, exceeding the Business Services sector's loss of 4.36% and lagging the S&P 500's loss of 1.09%.
The investment community will be closely monitoring the performance of Qifu Technology, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at $1.08, signifying a 31.71% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $598.92 million, up 14.28% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.21 per share and revenue of $2.3 billion, which would represent changes of +14.4% and +0.64%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Qifu Technology, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Qifu Technology, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
With respect to valuation, Qifu Technology, Inc. is currently being traded at a Forward P/E ratio of 4.25. This represents a discount compared to its industry's average Forward P/E of 22.36.
Also, we should mention that QFIN has a PEG ratio of 0.43. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Technology Services stocks are, on average, holding a PEG ratio of 1.6 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
Download Now – Today It’s FREE >>
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