OneConnect Financial Technology (NASDAQ:OCFT) Posts Quarterly Earnings Results
OneConnect Financial Technology (NASDAQ:OCFT) posted its earnings results on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.09), Yahoo Finance reports. The business had revenue of $109.74 million during the quarter, compared to analysts’ expectations of $103.14 million.
Shares of NASDAQ:OCFT traded down $1.55 on Wednesday, reaching $11.59. 25,689 shares of the company traded hands, compared to its average volume of 506,277. The business has a 50-day simple moving average of $13.12. OneConnect Financial Technology has a 52 week low of $9.43 and a 52 week high of $16.60.
Several research analysts have recently weighed in on OCFT shares. JPMorgan Chase & Co. started coverage on shares of OneConnect Financial Technology in a report on Thursday, January 23rd. They issued an “overweight” rating and a $21.00 price target on the stock. Morgan Stanley started coverage on shares of OneConnect Financial Technology in a report on Tuesday, January 7th. They issued an “overweight” rating and a $16.00 price target on the stock. Goldman Sachs Group started coverage on shares of OneConnect Financial Technology in a report on Tuesday, January 7th. They issued a “buy” rating and a $15.90 price target on the stock. Bank of America started coverage on OneConnect Financial Technology in a research note on Tuesday, January 7th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, KeyCorp started coverage on OneConnect Financial Technology in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $15.00 target price on the stock. Five analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $17.18.
OneConnect Financial Technology Company Profile
OneConnect Financial Technology Co, Ltd. operates as a technology-as-a-service platform for financial institutions in the People’s Republic of China. The company provides cloud-platform-based Fintech solutions, and online information and operating support services. It offers digital retail banking, small and medium enterprises (SME) financing and services, retail banking risk-management, SME banking risk management, auto insurance operations and services, asset management, asset-liability management, artificial intelligence customer service, core systems, and insurance sales management solutions.
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