Qiwi (NASDAQ:QIWI) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Qiwi (NASDAQ:QIWI) from a hold rating to a buy rating in a research note released on Tuesday morning, BidAskClub reports.

QIWI has been the subject of a number of other reports. ValuEngine downgraded Qiwi from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded Qiwi from a strong-buy rating to a hold rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. raised Qiwi from a neutral rating to an overweight rating and raised their price target for the stock from $19.00 to $20.00 in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Qiwi presently has a consensus rating of Hold and a consensus price target of $20.33.

Shares of QIWI traded down $1.03 during midday trading on Tuesday, reaching $20.27. 15,095 shares of the stock were exchanged, compared to its average volume of 237,671. Qiwi has a 12-month low of $11.61 and a 12-month high of $22.55. The business has a 50 day simple moving average of $20.21. The firm has a market cap of $1.29 billion, a P/E ratio of 21.29 and a beta of 1.16.

Qiwi (NASDAQ:QIWI) last posted its quarterly earnings results on Thursday, May 16th. The credit services provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.14. Qiwi had a return on equity of 16.86% and a net margin of 12.20%. The company had revenue of $82.90 million during the quarter. As a group, equities analysts predict that Qiwi will post 1.56 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of QIWI. New York State Common Retirement Fund acquired a new position in shares of Qiwi during the 4th quarter valued at about $105,000. Financial Gravity Wealth Inc. acquired a new position in shares of Qiwi during the 1st quarter valued at about $154,000. Advisor Group Inc. increased its holdings in shares of Qiwi by 46.7% during the 4th quarter. Advisor Group Inc. now owns 11,173 shares of the credit services provider’s stock valued at $158,000 after acquiring an additional 3,557 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of Qiwi during the 1st quarter valued at about $176,000. Finally, Bank of America Corp DE increased its holdings in shares of Qiwi by 321.1% during the 4th quarter. Bank of America Corp DE now owns 15,238 shares of the credit services provider’s stock valued at $215,000 after acquiring an additional 11,619 shares during the last quarter. 24.66% of the stock is currently owned by institutional investors and hedge funds.

About Qiwi

Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. The company offers payment services across online, mobile, and physical channels through a network of approximately 109,000 kiosks and 43,000 terminals that run its proprietary software.

Featured Article: What is Compound Interest?

Receive News & Ratings for Qiwi Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qiwi and related companies with MarketBeat.com's FREE daily email newsletter.