Qiwi (QIWI) Cut to Hold at ValuEngine

Qiwi (NASDAQ:QIWI) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Sunday.

A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded Qiwi from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 18th. VTB Capital upgraded Qiwi from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Finally, BidaskClub lowered Qiwi from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Qiwi presently has an average rating of “Hold” and an average price target of $22.67.

Qiwi (QIWI) opened at $14.23 on Friday. Qiwi has a fifty-two week low of $11.60 and a fifty-two week high of $26.55. The firm has a market capitalization of $862.30, a P/E ratio of 12.92 and a beta of 3.33.

Institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Qiwi during the second quarter valued at approximately $201,000. Ameriprise Financial Inc. purchased a new stake in shares of Qiwi during the second quarter valued at approximately $260,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Qiwi during the third quarter valued at approximately $245,000. Wells Fargo & Company MN increased its position in shares of Qiwi by 110.5% during the second quarter. Wells Fargo & Company MN now owns 15,378 shares of the credit services provider’s stock valued at $380,000 after acquiring an additional 8,073 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Qiwi during the third quarter valued at approximately $268,000. 17.48% of the stock is owned by institutional investors.

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About Qiwi

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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