Yirendai Ltd. (NYSE:YRD)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday. They currently have a $42.00 target price on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 0.45% from the company’s previous close.

Several other equities analysts also recently commented on YRD. ValuEngine downgraded Yirendai from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research upgraded Yirendai from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, August 23rd.

Shares of Yirendai (YRD) traded down $0.71 during mid-day trading on Friday, hitting $41.81. The stock had a trading volume of 317,224 shares, compared to its average volume of 655,555. The company has a market cap of $2,542.62, a price-to-earnings ratio of 13.05 and a beta of 8.34.

Yirendai (NYSE:YRD) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). Yirendai had a return on equity of 80.79% and a net margin of 32.37%. The firm had revenue of $773.79 million during the quarter, compared to analyst estimates of $153.78 million. During the same quarter in the prior year, the company posted $0.66 EPS. The company’s quarterly revenue was up 343.4% on a year-over-year basis. analysts expect that Yirendai will post 3.04 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in YRD. Bank of America Corp DE grew its stake in shares of Yirendai by 24.5% in the first quarter. Bank of America Corp DE now owns 7,644 shares of the technology company’s stock worth $192,000 after acquiring an additional 1,504 shares during the last quarter. TIAA CREF Investment Management LLC acquired a new stake in shares of Yirendai in the second quarter worth $204,000. Rehmann Capital Advisory Group acquired a new stake in shares of Yirendai in the third quarter worth $205,000. Global X Management Co. LLC grew its stake in shares of Yirendai by 399.0% in the second quarter. Global X Management Co. LLC now owns 8,224 shares of the technology company’s stock worth $206,000 after acquiring an additional 6,576 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Yirendai in the second quarter worth $220,000. Institutional investors and hedge funds own 6.66% of the company’s stock.

Yirendai Company Profile

Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.

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