OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT) has been given an average recommendation of “Buy” by the seven ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $19.86.

OCFT has been the subject of several recent research reports. KeyCorp lifted their price objective on OneConnect Financial Technology from $22.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Zacks Investment Research lowered shares of OneConnect Financial Technology from a “buy” rating to a “hold” rating in a research report on Saturday. BidaskClub upgraded shares of OneConnect Financial Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 29th. Finally, JPMorgan Chase & Co. cut shares of OneConnect Financial Technology from an “overweight” rating to a “neutral” rating and set a $24.00 price target on the stock. in a research note on Tuesday, July 21st.



OneConnect Financial Technology stock opened at $20.35 on Tuesday. The business’s 50 day simple moving average is $20.67 and its 200 day simple moving average is $18.55. OneConnect Financial Technology has a 12 month low of $9.02 and a 12 month high of $28.80.

OneConnect Financial Technology (NASDAQ:OCFT) last issued its earnings results on Tuesday, August 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.46. The firm had revenue of $109.27 million during the quarter, compared to the consensus estimate of $111.66 million.

Several institutional investors and hedge funds have recently made changes to their positions in OCFT. Royal Bank of Canada lifted its holdings in shares of OneConnect Financial Technology by 195.0% in the first quarter. Royal Bank of Canada now owns 19,570 shares of the company’s stock worth $199,000 after buying an additional 12,936 shares in the last quarter. SG Americas Securities LLC bought a new stake in OneConnect Financial Technology during the 2nd quarter worth approximately $9,108,000. LA Financiere DE L Echiquier lifted its stake in OneConnect Financial Technology by 110.6% in the 2nd quarter. LA Financiere DE L Echiquier now owns 785,000 shares of the company’s stock worth $14,334,000 after purchasing an additional 412,210 shares in the last quarter. Seafarer Capital Partners LLC bought a new position in OneConnect Financial Technology in the 2nd quarter valued at $1,461,000. Finally, Principal Financial Group Inc. purchased a new position in shares of OneConnect Financial Technology during the 2nd quarter valued at $10,316,000.

OneConnect Financial Technology Company Profile

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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Analyst Recommendations for OneConnect Financial Technology (NASDAQ:OCFT)

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