JPMorgan Chase & Co. Upgrades Qiwi (QIWI) to Overweight

Qiwi (NASDAQ:QIWI) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, The Fly reports.

Other equities analysts have also issued reports about the stock. ValuEngine upgraded shares of Qiwi from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 26th. BidaskClub lowered shares of Qiwi from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Zacks Investment Research upgraded shares of Qiwi from a “strong sell” rating to a “hold” rating in a research report on Friday, January 25th. Finally, TheStreet upgraded shares of Qiwi from a “c+” rating to a “b-” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.75.

NASDAQ:QIWI opened at $13.64 on Thursday. Qiwi has a 1-year low of $11.61 and a 1-year high of $19.29. The firm has a market capitalization of $840.40 million, a P/E ratio of 14.21 and a beta of 1.52.

Qiwi (NASDAQ:QIWI) last posted its quarterly earnings data on Thursday, March 28th. The credit services provider reported $16.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $16.29. Qiwi had a net margin of 12.02% and a return on equity of 15.29%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the firm posted $10.48 EPS. Qiwi’s quarterly revenue was up 41.4% on a year-over-year basis. As a group, equities analysts anticipate that Qiwi will post 1.31 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. acquired a new position in shares of Qiwi during the 1st quarter worth $154,000. Essex Investment Management Co. LLC acquired a new position in shares of Qiwi during the 4th quarter worth $268,000. Perpetual Ltd raised its stake in shares of Qiwi by 8.2% during the 4th quarter. Perpetual Ltd now owns 88,643 shares of the credit services provider’s stock worth $1,213,000 after buying an additional 6,734 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Qiwi by 114.8% during the 3rd quarter. Renaissance Technologies LLC now owns 322,780 shares of the credit services provider’s stock worth $4,251,000 after buying an additional 172,480 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Qiwi by 34.1% during the 3rd quarter. Morgan Stanley now owns 113,938 shares of the credit services provider’s stock worth $1,501,000 after buying an additional 28,975 shares during the last quarter. 26.74% of the stock is owned by institutional investors and hedge funds.

Qiwi Company Profile

Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. The company offers payment services across online, mobile, and physical channels through a network of approximately 109,000 kiosks and 43,000 terminals that run its proprietary software.

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