360 DigiTech Inc. (NASDAQ:QFIN) Drops -5.46%, But Further Rally Could Be Imminent – Marketing Sentinel
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360 DigiTech Inc. (NASDAQ:QFIN) Drops -5.46%, But Further Rally Could Be Imminent

In last trading session, 360 DigiTech Inc. (NASDAQ:QFIN) saw 1.92 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $19.55 trading at -$1.13 or -5.46% at ring of the bell on the day assigns it a market valuation of $3.10B. That closing price of QFIN’s stock is at a discount of -130.18% from its 52-week high price of $45.00 and is indicating a premium of 35.24% from its 52-week low price of $12.66. Taking a look at company’s average trading volume of 1.42 million if we extend that period to 3-months.

For 360 DigiTech Inc. (QFIN), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.40. Splitting up the data highlights that, out of 8 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 8 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $1.19 in the current quarter.

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360 DigiTech Inc. (NASDAQ:QFIN) trade information

Upright in the red during last session for losing -5.46%, in the last five days QFIN remained trading in the red while hitting it’s week-highest on Friday, 01/07/22 when the stock touched $19.55 price level, adding 11.06% to its value on the day. 360 DigiTech Inc.’s shares saw a change of -14.74% in year-to-date performance and have moved -6.86% in past 5-day. 360 DigiTech Inc. (NASDAQ:QFIN) showed a performance of -6.24% in past 30-days.

Wall Street analysts have assigned a consensus price target of $237.24 to the stock, which implies a rise of 91.76% to its current value. Analysts have been projecting $204.08 as a low price target for the stock while placing it at a high target of $344.63. It follows that stock’s current price would drop -1662.81% in reaching the projected high whereas dropping to the targeted low would mean a loss of -943.89% for stock’s current value.

360 DigiTech Inc. (QFIN) estimates and forecasts

Statistics highlight that 360 DigiTech Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -33.93% of value to its shares in past 6 months, showing an annual growth rate of 46.05% while that of industry is 11.80. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -8.50% in the current quarter and calculating -13.20% decrease in the next quarter. This year revenue growth is estimated to rise 23.60% from the last financial year’s standing.

QFIN Dividends

360 DigiTech Inc. is more likely to be releasing its next quarterly report between March 14 and March 18 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

360 DigiTech Inc. (NASDAQ:QFIN)’s Major holders

Insiders are in possession of 18.78% of company’s total shares while institution are holding 62.21 percent of that, with stock having share float percentage of 76.60%. Investors also watch the number of corporate investors in a company very closely, which is 62.21% institutions for 360 DigiTech Inc. that are currently holding shares of the company. Fountainvest China Capital Partners Gp3 Ltd. is the top institutional holder at QFIN for having 12.73 million shares of worth $258.77 million. And as of Sep 29, 2021, it was holding 9.62% of the company’s outstanding shares.

The second largest institutional holder is Morgan Stanley, which was holding about 11.91 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 9.00% of outstanding shares, having a total worth of $242.02 million.

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On the other hand, KraneShares CSI China Internet ETF and Vanguard International Stock Index-Emerging Markets Stk are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 2.28 million shares of worth $46.3 million or 1.72% of the total outstanding shares. The later fund manager was in possession of 1.78 million shares on Jul 30, 2021, making its stake of worth around $37.88 million in the company or a holder of 1.35% of company’s stock.

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