Zacks: Analysts Set $13.00 Price Target for Weidai Ltd (WEI)

Weidai Ltd (NYSE:WEI) has been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus target price of $13.00 for the company and are predicting that the company will post $0.35 EPS for the current quarter, according to Zacks. Zacks has also assigned Weidai an industry rank of 19 out of 256 based on the ratings given to its competitors.

Separately, ValuEngine upgraded Weidai from a “sell” rating to a “hold” rating in a report on Monday, February 4th.

A hedge fund recently bought a new stake in Weidai stock. FMR LLC bought a new position in Weidai Ltd (NYSE:WEI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 505,590 shares of the company’s stock, valued at approximately $4,682,000. FMR LLC owned approximately 0.72% of Weidai at the end of the most recent reporting period. 0.80% of the stock is owned by institutional investors and hedge funds.

WEI stock opened at $10.05 on Friday. Weidai has a 12-month low of $9.14 and a 12-month high of $13.63. The stock has a market capitalization of $703.40 million and a P/E ratio of 6.32.

Weidai (NYSE:WEI) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.03). The company had revenue of $144.50 million during the quarter. Equities research analysts anticipate that Weidai will post 1.66 earnings per share for the current year.

About Weidai

Weidai Ltd., through its subsidiaries, provides auto-backed financing solutions in the People's Republic of China. Its auto-backed financing platform connects borrowers primarily mall and micro enterprise owners with online investors and institutional funding partners. The company was founded in 2011 and is headquartered in Hangzhou, the People's Republic of China.

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