OneConnect Financial Technology (NASDAQ:OCFT) Upgraded to Buy at BidaskClub
OCFT has been the subject of several other reports. Zacks Investment Research cut OneConnect Financial Technology from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on OneConnect Financial Technology in a report on Thursday, November 5th. They set a “buy” rating and a $28.00 price objective for the company. Finally, Smith Barney Citigroup assumed coverage on OneConnect Financial Technology in a report on Thursday, November 5th. They set a “buy” rating and a $28.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $22.29.
OCFT opened at $22.18 on Friday. The business has a 50 day simple moving average of $20.96 and a 200-day simple moving average of $20.59. 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 posted 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 firm had revenue of $127.39 million during the quarter, compared to analyst estimates of $132.19 million.
Large investors have recently made changes to their positions in the company. Platinum Investment Management Ltd. purchased a new stake in OneConnect Financial Technology during the third quarter valued at about $27,195,000. Principal Financial Group Inc. acquired a new position in OneConnect Financial Technology in the 2nd quarter valued at $10,316,000. Van ECK Associates Corp raised its holdings in OneConnect Financial Technology by 774,385.7% in the 3rd quarter. Van ECK Associates Corp now owns 542,140 shares of the company’s stock worth $11,548,000 after acquiring an additional 542,070 shares during the period. Jupiter Asset Management Ltd. bought a new position in OneConnect Financial Technology in the 3rd quarter worth $6,167,000. Finally, ExodusPoint Capital Management LP bought a new position in OneConnect Financial Technology in the 3rd quarter worth $4,600,000.
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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