Qiwi Plc (NASDAQ:QIWI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “QIWI plc operates as a provider of next generation payment services primarily in Russia and the CIS. The Company has an integrated network that enables payment services across physical, online and mobile channels. It enables merchants to accept cash and electronic payments from virtual wallets, and operates cash-collecting terminals and kiosks. QIWI plc is based in Moscow, the Russian Federation. “

Several other brokerages have also recently weighed in on QIWI. ValuEngine cut shares of Qiwi Plc from a “buy” rating to a “hold” rating in a research note on Thursday, May 18th. Credit Suisse Group started coverage on shares of Qiwi Plc in a research note on Friday, April 7th. They issued a “neutral” rating and a $18.00 price objective on the stock. BidaskClub cut shares of Qiwi Plc from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. J P Morgan Chase & Co raised shares of Qiwi Plc from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $15.00 to $23.00 in a research note on Monday, April 10th. Finally, VTB Capital cut shares of Qiwi Plc from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Monday, June 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $23.25.

Qiwi Plc (NASDAQ QIWI) opened at 20.37 on Wednesday. Qiwi Plc has a 1-year low of $11.26 and a 1-year high of $26.55.

Qiwi Plc (NASDAQ:QIWI) last issued its quarterly earnings data on Wednesday, May 17th. The credit services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.13. Qiwi Plc had a net margin of 14.27% and a return on equity of 23.38%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter in the previous year, the firm posted $20.41 earnings per share. Qiwi Plc’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts predict that Qiwi Plc will post $1.21 earnings per share for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in QIWI. BlackRock Inc. raised its position in Qiwi Plc by 19.8% in the first quarter. BlackRock Inc. now owns 8,916 shares of the credit services provider’s stock valued at $129,000 after buying an additional 1,474 shares during the last quarter. Advisors Preferred LLC purchased a new position in Qiwi Plc during the first quarter valued at about $143,000. Koch Industries Inc. purchased a new position in Qiwi Plc during the fourth quarter valued at about $148,000. Quantbot Technologies LP purchased a new position in Qiwi Plc during the second quarter valued at about $164,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Qiwi Plc during the fourth quarter valued at about $170,000. Institutional investors and hedge funds own 14.75% of the company’s stock.

Qiwi Plc Company Profile

QIWI plc is a provider of payment services in Russia and the Commonwealth of Independent States (CIS). The Company’s network enables payment services across physical, online and mobile channels. The Company operates in target markets and customer segments. As of December 31, 2016, the Company had deployed over 17.2 million virtual wallets, over 162,000 kiosks and terminals, and enabled merchants to accept over Russian rubles 70 billion cash and electronic payments monthly.

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