OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT) Given Consensus Recommendation of “Buy” by Analysts
OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT) has earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $22.19.
Several brokerages recently commented on OCFT. KeyCorp upped their price target on shares of OneConnect Financial Technology from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. BidaskClub upgraded shares of OneConnect Financial Technology from a “hold” rating to a “buy” rating in a report on Tuesday, November 10th. Smith Barney Citigroup assumed coverage on shares of OneConnect Financial Technology in a report on Thursday, November 5th. They set a “buy” rating and a $28.00 price target on the stock. Zacks Investment Research cut shares of OneConnect Financial Technology from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on shares of OneConnect Financial Technology in a research report on Thursday, November 5th. They issued a “buy” rating and a $28.00 price objective for the company.
Several institutional investors and hedge funds have recently made changes to their positions in the company. TFC Financial Management purchased a new stake in shares of OneConnect Financial Technology in the 3rd quarter worth approximately $29,000. US Bancorp DE purchased a new stake in shares of OneConnect Financial Technology in the 3rd quarter worth approximately $30,000. Pendal Group Ltd lifted its position in shares of OneConnect Financial Technology by 12.0% in the 2nd quarter. Pendal Group Ltd now owns 13,375 shares of the company’s stock worth $244,000 after purchasing an additional 1,434 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of OneConnect Financial Technology in the 2nd quarter worth approximately $54,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of OneConnect Financial Technology in the 2nd quarter worth approximately $221,000.
OneConnect Financial Technology stock opened at $20.29 on Friday. The company’s 50-day moving average price is $20.98 and its 200-day moving average price is $19.88. OneConnect Financial Technology has a twelve month low of $9.02 and a twelve month high of $28.80.
OneConnect Financial Technology (NASDAQ:OCFT) last issued its quarterly earnings results on Sunday, November 8th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.55). The company had revenue of $127.39 million for the quarter, compared to the consensus estimate of $132.19 million.
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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