We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Qifu Technology, Inc. (QFIN) Stock Moves -0.22%: What You Should Know
Read MoreHide Full Article
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Qifu Technology, Inc. (QFIN) Stock Moves -0.22%: What You Should Know
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.