Morgan Stanley Initiates Coverage on Qiwi PLC (QIWI)
Equities researchers at Morgan Stanley began coverage on shares of Qiwi PLC (NASDAQ:QIWI) in a research report issued on Monday, Analyst Ratings Network reports. The firm set an “equal weight” rating and a $30.00 price target on the stock. Morgan Stanley’s price objective suggests a potential downside of 3.32% from the stock’s previous close.
The analysts wrote, “Qiwi’s premium valuation (~16x EBITDA 2014e) reflects healthy short-term prospects, and strong current trading will continue to support the shares. However, medium term, we see risks emerging – in particular, loss of share in the eWallet market as competition increases. Hence we initiate with EW.”
Shares of Qiwi PLC (NASDAQ:QIWI) traded down 2.61% during mid-day trading on Monday, hitting $30.22. The stock had a trading volume of 43,781 shares. Qiwi PLC has a one year low of $14.51 and a one year high of $36.00. The stock has a 50-day moving average of $31.74 and a 200-day moving average of $25.25. The company has a market cap of $1.574 billion and a P/E ratio of 32.98.
Qiwi PLC (NASDAQ:QIWI) last posted its quarterly earnings results on Tuesday, August 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. The company had revenue of $47.70 million for the quarter, compared to the consensus estimate of $39.33 million. The company’s revenue for the quarter was up 61.8% on a year-over-year basis. On average, analysts predict that Qiwi PLC will post $1.12 earnings per share for the current fiscal year.
QIWI has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Qiwi PLC (NASDAQ:QIWI) from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, September 2nd. They now have a $35.50 price target on the stock. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Qiwi PLC (NASDAQ:QIWI) from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday, August 27th. They now have a $40.00 price target on the stock, up previously from $24.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Qiwi PLC (NASDAQ:QIWI) in a research note to investors on Tuesday, July 23rd. They now have a $24.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $30.80.
QIWI plc. is a provider of payment services in Russia and Commonwealth of Independent States (NASDAQ:QIWI).
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