Jianpu Technology (NYSE:JT) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Jianpu Technology (NYSE:JT) from a hold rating to a buy rating in a research report released on Saturday morning, Zacks.com reports. The brokerage currently has $4.25 target price on the stock.

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. “

Other equities analysts have also issued reports about the stock. Goldman Sachs Group lowered shares of Jianpu Technology from a buy rating to a neutral rating in a research report on Wednesday, June 26th. ValuEngine upgraded shares of Jianpu Technology from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Finally, TheStreet lowered shares of Jianpu Technology from a c- rating to a d+ rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $6.88.

Shares of Jianpu Technology stock opened at $3.53 on Friday. Jianpu Technology has a 1-year low of $3.43 and a 1-year high of $7.97. The business’s 50-day moving average price is $3.84. The company has a market capitalization of $596.46 million, a PE ratio of -25.21 and a beta of 1.40.

Jianpu Technology (NYSE:JT) last announced its earnings results on Tuesday, May 28th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.03. Jianpu Technology had a negative net margin of 3.95% and a negative return on equity of 5.41%. The company had revenue of $97.58 million for the quarter, compared to analyst estimates of $90.04 million. On average, research analysts anticipate that Jianpu Technology will post 0.09 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its holdings in Jianpu Technology by 2.1% in the second quarter. Wells Fargo & Company MN now owns 7,610,711 shares of the company’s stock valued at $28,464,000 after buying an additional 159,000 shares during the period. Baillie Gifford & Co. lifted its holdings in Jianpu Technology by 4.1% in the first quarter. Baillie Gifford & Co. now owns 3,871,919 shares of the company’s stock valued at $19,398,000 after buying an additional 152,199 shares during the period. Hamilton Lane Advisors LLC acquired a new position in Jianpu Technology in the first quarter valued at approximately $529,000. Stevens Capital Management LP acquired a new position in Jianpu Technology in the second quarter valued at approximately $54,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Jianpu Technology in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 16.56% of the company’s stock.

About Jianpu Technology

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.

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