Jianpu Technology (NYSE:JT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday, Zacks.com reports. The brokerage presently has a $5.75 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 17.35% from the stock’s current price.
According to Zacks, “Jianpu Technology Inc. is an open platform for discovery and recommendation of financial products primarily in China. The Company offers loan applications, credit card services and sales and marketing solutions. It serves credit information providers, payment companies and e-commerce platforms. Jianpu Technology Inc. is based in Beijing, China. “
JT has been the subject of several other reports. JPMorgan Chase & Co. raised Jianpu Technology from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $5.50 to $9.50 in a research note on Friday, March 1st. ValuEngine raised Jianpu Technology from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st.
Jianpu Technology (NYSE:JT) last announced its quarterly earnings data on Monday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $107.93 million during the quarter. Jianpu Technology had a negative return on equity of 10.13% and a negative net margin of 8.36%. As a group, analysts predict that Jianpu Technology will post -0.01 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of JT. Morgan Stanley increased its position in Jianpu Technology by 58.8% in the 1st quarter. Morgan Stanley now owns 5,400 shares of the company’s stock worth $27,000 after purchasing an additional 2,000 shares during the last quarter. Trexquant Investment LP acquired a new position in Jianpu Technology in the 1st quarter worth about $60,000. Ellington Management Group LLC acquired a new position in Jianpu Technology in the 1st quarter worth about $179,000. BlackRock Inc. acquired a new position in Jianpu Technology in the 1st quarter worth about $274,000. Finally, Hamilton Lane Advisors LLC acquired a new position in Jianpu Technology in the 1st quarter worth about $529,000. 12.12% of the stock is currently owned by institutional investors.
Jianpu Technology Company Profile
Jianpu Technology Inc operates a platform that provides online discovery and recommendation services for financial products in the People's Republic of China. Its platform allows users to access to financial products, including consumer and other loans, credit cards, and wealth management products.
Recommended Story: Cryptocurrencies
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Jianpu Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jianpu Technology and related companies with MarketBeat.com's FREE daily email newsletter.