LexinFintech (NASDAQ: LX) was upgraded from a “strong sell” rating to a “hold” rating by Zacks Investment Research in a research note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, “LexinFintech Holdings Ltd. an online consumer finance platform for educated young adults mainly in China. The company offers technologies such as big data, cloud computing and artificial intelligence. LexinFintech Holdings Ltd. is based in China. “
Regardless, UBS Group has downgraded LexinFintech from a “Buy” rating to a “Neutral” rating and set a price target of $ 4.30 for the stock. in a report on Monday, December 20. Three research analysts for stocks have given the stock a hold rating and three have given it a buy rating. The stock has an average rating of “Buy” and an average price target of $ 10.16, according to MarketBeat.com.
LX stock opened at $ 3.67 on Wednesday. The company has a debt of 0.34, a quick ratio of 1.62 and a current ratio of 1.63. The stock has a market cap of $ 668.09 million, a P / E of 1.88, and a beta of 0.84. The company has a 50-day simple moving average of $ 4.40 and a 200-day simple moving average of $ 6.35. LexinFintech has a 52-week low of $ 3.35 and a 52-week high of $ 15.42.
LexinFintech (NASDAQ: LX) last announced its earnings results on Wednesday November 10th. The company reported $ 0.44 EPS for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.30 by $ 0.14. LexinFintech achieved a return on equity of 38.73% and a net margin of 21.19%. The company had sales of $ 460.75 million for the quarter. Sell-side analysts predict that LexinFintech will post 2.1 EPS for the current year.
Several institutional investors and hedge funds have recently added or reduced their stakes in LX. Vanguard Group Inc. increased its stake in LexinFintech by 7.2% in the second quarter. Vanguard Group Inc. now owns 3,925,985 shares in the company, valued at $ 48,094,000, after purchasing an additional 264,429 shares last quarter. Marshall Wace LLP added 68.8% to its position in LexinFintech in the second quarter. Marshall Wace LLP now owns 655,275 shares in the company valued at $ 8,027,000 after purchasing an additional 267,188 shares during the period. Shell Asset Management Co. increased its position in LexinFintech 196.6% in the second quarter. Shell Asset Management Co. now owns 63,186 shares in the company valued at $ 774,000 after purchasing an additional 41,881 shares during the period. Principal Financial Group Inc. increased its position in LexinFintech by 1,150.7% in the second quarter. Principal Financial Group Inc. now owns 173,878 shares in the company valued at $ 2,130,000 after purchasing an additional 159,976 shares during the period. Finally, BlackRock Inc. increased its position in LexinFintech by 4.3% in the second quarter. BlackRock Inc. now owns 2,145,686 shares in the company valued at $ 26,285,000 after purchasing an additional 88,961 shares during the period. 25.69% of the shares are currently owned by hedge funds and other institutional investors.
Lexinfintech Holdings Ltd. deals with the provision of online consumer finance platforms. Through its subsidiaries, it offers online direct sales with payment terms and conditions; Hire purchase loan; and personal installment loans. Its services are offered through its online consumer finance platform www.fenqile.com; and mobile application.
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