UBS Group Lowers Qiwi (QIWI) Price Target to $22.00
Qiwi (NASDAQ:QIWI) had its price objective reduced by analysts at UBS Group from $24.50 to $22.00 in a research note issued on Friday, August 24th, www.benzinga.com reports. The firm currently has a “buy” rating on the credit services provider’s stock. UBS Group’s price objective points to a potential upside of 71.74% from the company’s previous close.
A number of other equities analysts have also weighed in on QIWI. BidaskClub upgraded Qiwi from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. ValuEngine lowered Qiwi from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Credit Suisse Group lowered Qiwi from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $18.00 to $14.00 in a research note on Monday, May 28th. Zacks Investment Research upgraded Qiwi from a “sell” rating to a “hold” rating in a research note on Tuesday, June 19th. Finally, TheStreet upgraded Qiwi from a “c+” rating to a “b-” rating in a research note on Monday, August 6th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.67.
NASDAQ QIWI traded up $0.07 during trading hours on Friday, hitting $12.81. 286,812 shares of the company traded hands, compared to its average volume of 261,209. Qiwi has a twelve month low of $12.50 and a twelve month high of $20.05. The stock has a market capitalization of $594.95 million, a PE ratio of 12.32 and a beta of 2.79.
Institutional investors and hedge funds have recently modified their holdings of the company. Dumac Inc. increased its stake in shares of Qiwi by 56.0% in the 1st quarter. Dumac Inc. now owns 8,492 shares of the credit services provider’s stock valued at $162,000 after purchasing an additional 3,047 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Qiwi during the 2nd quarter valued at $158,000. GSA Capital Partners LLP acquired a new stake in shares of Qiwi during the 1st quarter valued at $217,000. Handelsbanken Fonder AB acquired a new stake in shares of Qiwi during the 2nd quarter valued at $268,000. Finally, Capital Fund Management S.A. acquired a new stake in shares of Qiwi during the 2nd quarter valued at $359,000. Institutional investors own 29.00% of the company’s stock.
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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