Recently, shares of Qifu Technology Inc (Symbol: QFIN) have climbed above the average analyst 12-month target price of $30.67, currently trading at $30.74 per share. When a stock hits its analyst-set target, analysts typically have one of two responses: a downgrade based on valuation or an upward adjustment of the target price. The decision often hinges on the company’s performance and recent developments contributing to the stock’s rise.
Within the Zacks coverage universe, there are five distinct analyst targets used to calculate this average for Qifu Technology Inc. It’s important to note that the average is just that—a mathematical average. Some analysts have lower targets, with one setting a price of $23.80, while others see potential as high as $39.30. The standard deviation among these targets stands at $6.883.
The purpose of analyzing the average QFIN price target is to gather insights from a broader group of analysts, rather than relying on a single expert’s opinion. With QFIN surpassing the average target price of $30.67/share, investors are encouraged to reevaluate the company and consider whether this is just a pause on the way to an even higher target or an indication that the stock may be overvalued, signaling a possible time to cash in some shares. Below is a table showing analysts’ current ratings for Qifu Technology Inc:
| Recent QFIN Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 5 | 5 | 5 | 5 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 0 | 0 | 0 | 0 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.0 | 1.0 | 1.0 | 1.0 |
The average rating in the table above ranges from 1 to 5, where 1 indicates a Strong Buy and 5 indicates a Strong Sell. This analysis has utilized data provided by Zacks Investment Research via Quandl.com. For further insights, check out the latest Zacks research report on QFIN—available for free.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
