OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT) Given Consensus Rating of “Buy” by Brokerages
Shares of OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT) have received an average rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $19.86.
A number of analysts have weighed in on OCFT shares. Zacks Investment Research lowered shares of OneConnect Financial Technology from a “buy” rating to a “hold” rating in a research report on Saturday. BidaskClub raised OneConnect Financial Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. cut OneConnect Financial Technology from an “overweight” rating to a “neutral” rating and set a $24.00 target price for the company. in a report on Tuesday, July 21st. Finally, KeyCorp lifted their price target on OneConnect Financial Technology from $22.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th.
Institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in OneConnect Financial Technology during the 2nd quarter worth $54,000. Royal Bank of Canada grew its position in shares of OneConnect Financial Technology by 195.0% in the 1st quarter. Royal Bank of Canada now owns 19,570 shares of the company’s stock valued at $199,000 after buying an additional 12,936 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of OneConnect Financial Technology in the second quarter valued at about $221,000. Pendal Group Ltd raised its position in shares of OneConnect Financial Technology by 12.0% during the second quarter. Pendal Group Ltd now owns 13,375 shares of the company’s stock worth $244,000 after acquiring an additional 1,434 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its stake in shares of OneConnect Financial Technology by 932.9% in the second quarter. Advisor Group Holdings Inc. now owns 15,493 shares of the company’s stock worth $283,000 after acquiring an additional 13,993 shares during the period.
OCFT stock opened at $20.35 on Tuesday. OneConnect Financial Technology has a 12 month low of $9.02 and a 12 month high of $28.80. The firm has a 50-day moving average price of $20.67 and a 200-day moving average price of $18.55.
OneConnect Financial Technology (NASDAQ:OCFT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.46. The company had revenue of $109.27 million for the quarter, compared to the consensus estimate of $111.66 million.
About OneConnect Financial Technology
OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People’s Republic of China. It offers digital retail banking, small and medium enterprises (SME) financing and services, retail and 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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