Qifu Technology, Inc. (QFIN) ended the recent trading session at $18.51, demonstrating a +1.48% swing from the preceding day’s closing price. The stock’s performance was ahead of the S&P 500’s daily gain of 1.2%. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 1.59%.
Prior to today’s trading, shares of the company had lost 0.65% over the past month. This has was narrower than the Business Services sector’s loss of 6.46% and the S&P 500’s loss of 4.16% in that time.
Investors will be eagerly watching for the performance of Qifu Technology, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.08, showcasing a 31.71% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $598.92 million, indicating a 14.28% growth compared to the corresponding quarter of the prior year.
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.
It is also important to note the recent changes to analyst estimates for Qifu Technology, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Qifu Technology, Inc. boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Qifu Technology, Inc. is currently trading at a Forward P/E ratio of 4.34. This expresses a discount compared to the average Forward P/E of 22.48 of its industry.
One should further note that QFIN currently holds a PEG ratio of 0.43. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. The Technology Services industry currently had an average PEG ratio of 1.47 as of yesterday’s close.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 153, this industry ranks in the bottom 40% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
