OneConnect Financial Technology (NASDAQ:OCFT) Given “Buy” Rating at KeyCorp
OneConnect Financial Technology (NASDAQ:OCFT)‘s stock had its “buy” rating reiterated by KeyCorp in a report released on Monday, TipRanks reports. They currently have a $14.00 price objective on the stock. KeyCorp’s target price points to a potential upside of 39.03% from the company’s previous close.
Other research analysts have also issued research reports about the stock. Bank of America began coverage on shares of OneConnect Financial Technology in a research note on Tuesday, January 7th. They issued a “buy” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of OneConnect Financial Technology in a report on Thursday, January 23rd. They issued an “overweight” rating and a $21.00 price objective for the company. Morgan Stanley began coverage on shares of OneConnect Financial Technology in a report on Tuesday, January 7th. They issued an “overweight” rating and a $16.00 price objective for the company. Goldman Sachs Group downgraded shares of OneConnect Financial Technology from a “buy” rating to a “neutral” rating and set a $13.30 price objective for the company. in a report on Friday, February 21st. Finally, Zacks Investment Research downgraded shares of OneConnect Financial Technology from a “buy” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $15.55.
Shares of OneConnect Financial Technology stock traded up $0.06 during trading on Monday, hitting $10.07. 173,033 shares of the stock were exchanged, compared to its average volume of 421,692. The stock has a fifty day moving average of $10.83. OneConnect Financial Technology has a 1-year low of $9.02 and a 1-year high of $16.60.
OneConnect Financial Technology (NASDAQ:OCFT) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.09). The company had revenue of $109.74 million for the quarter, compared to analyst estimates of $103.14 million.
Several institutional investors and hedge funds have recently bought and sold shares of OCFT. Capital Research Global Investors acquired a new stake in shares of OneConnect Financial Technology during the fourth quarter worth $52,156,000. Capital International Inc. CA acquired a new stake in shares of OneConnect Financial Technology during the fourth quarter worth $26,646,000. Capital International Investors acquired a new stake in shares of OneConnect Financial Technology during the fourth quarter worth $13,628,000. Norges Bank acquired a new stake in shares of OneConnect Financial Technology during the fourth quarter worth $7,523,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of OneConnect Financial Technology during the fourth quarter worth $3,279,000.
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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