Stock of the Day

April 10, 2024

Qfin (QFIN)

$8.66
-$0.14 (-1.6%)
Market Cap: $1.07B

About Qfin

Qifu Technology, Inc., through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service. The company also offers e-commerce loans, enterprise loans, and invoice loans to SME owners. It serves financial institutions, consumers, and small- and micro-enterprises. The company was formerly known as 360 DigiTech, Inc. and changed its name to Qifu Technology, Inc. in March 2023. The company was founded in 2016 and is headquartered in Shanghai, the People's Republic of China.

Today's Trend

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN) is under pressure following disappointing second-quarter results, cautious analyst revisions and a newly announced securities-fraud investigation. The stock has experienced substantial volatility, with elevated trading volume and remains well below its 50-day and 200-day moving averages.

  • Qfin declared a dividend of $0.46 per share for shareholders of record on September 9, payable October 1. The distribution may support investor returns, although the reported 1,032% yield appears inconsistent with the quoted dividend amount and should be treated cautiously.
  • The company’s second-quarter earnings presentation and conference call provide additional details on its operating performance and outlook. Investors are focused on whether management can stabilize results after a weaker quarter. Qfin Holdings 2026 Q2 Results Earnings Call Presentation
  • Qfin reported second-quarter earnings of $0.48 per share, missing the $0.96 consensus estimate and falling sharply from $1.78 a year earlier. Reports also indicated that additional softness is expected in the third quarter, increasing concerns about near-term profitability. Qfin Holdings Misses Q2 Earnings Estimates
  • J.P. Morgan downgraded QFIN to Underweight and cut its price target from $13.50 to $9.00. Citigroup moved from Buy to Sell with an $8.00 target, while Morgan Stanley lowered its rating from Overweight to Equal Weight with a $13.00 target. The revisions signal worsening analyst sentiment, despite Morgan Stanley’s target implying potential upside from recent levels.
  • The Law Offices of Frank R. Cruz announced an investigation into possible federal securities-law violations related to Qfin. The announcement does not establish wrongdoing, but it adds legal and reputational risk and may further weigh on investor confidence. Securities Fraud Investigation Into Qfin Holdings
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