Let’s Jump Into The OneConnect Financial Technology Co. Ltd. (NYSE: OCFT) Stock Forecast
In the last trading session, 0.22 million OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) shares changed hands as the company’s beta touched 0. With the company’s per share price at $1.11 changed hands at $0.0 or 0.00% during last session, the market valuation stood at $460.45M. OCFT’s last price was a discount, traded about -342.34% off its 52-week high of $4.91. The share price had its 52-week low at $0.99, which suggests the last value was 10.81% up since then. When we look at OneConnect Financial Technology Co. Ltd.’s average trading volume, we note the 10-day average is 0.34 million shares, with the 3-month average coming to 1.45 million.
Analysts gave the OneConnect Financial Technology Co. Ltd. (OCFT) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended OCFT as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. OneConnect Financial Technology Co. Ltd.’s EPS for the current quarter is expected to be -$0.13.
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Instantly OCFT was in green as seen at the end of in last trading. With action 0.91%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -55.06%, with the 5-day performance at 0.91% in the green. However, in the 30-day time frame, OneConnect Financial Technology Co. Ltd. (NYSE:OCFT) is -22.38% down. Looking at the short shares, we see there were 3.8 million shares sold at short interest cover period of 2.22 days.
The consensus price target for the stock as assigned by Wall Street analysts is $9.76, meaning bulls need an upside of 88.63% from its current market value. According to analyst projections, OCFT’s forecast low is $7.52 with $12.20 as the target high. To hit the forecast high, the stock’s price needs a -999.1% plunge from its current level, while the stock would need to soar -577.48% for it to hit the projected low.
OneConnect Financial Technology Co. Ltd. (OCFT) estimates and forecasts
Data shows that the OneConnect Financial Technology Co. Ltd. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -17.16% over the past 6 months, a 24.07% in annual growth rate that is considerably higher than the industry average of 12.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for OneConnect Financial Technology Co. Ltd. will rise 7.10%, while the growth in revenue is estimated to hit 27.30% for the next quarter. Year-over-year growth is forecast to reach 15.60% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $161.88 million. 1 analysts are of the opinion that OneConnect Financial Technology Co. Ltd.’s revenue for the quarter ending Sep 2022 will be $186.84 million. The company’s revenue for the corresponding quarters a year ago was $168.13 million and $165.77 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -3.70%. The estimates for the next quarter sales put growth at 12.70%.
OCFT Dividends
OneConnect Financial Technology Co. Ltd. is expected to release its next quarterly earnings report between January 31 and February 04.
OneConnect Financial Technology Co. Ltd. (NYSE:OCFT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 15.47% of OneConnect Financial Technology Co. Ltd. shares while 11.80% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 13.96%. There are 11.80% institutions holding the OneConnect Financial Technology Co. Ltd. stock share, with Capital Research Global Investors the top institutional holder. As of Mar 30, 2022, the company held 1.65% of the shares, roughly 6.44 million OCFT shares worth $9.08 million.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 1.15% or 4.48 million shares worth $6.32 million as of Mar 30, 2022.
Among Mutual Funds, the top two as of Mar 30, 2022 were Smallcap World Fund and KraneShares CSI China Internet ETF. With 5.11 million shares estimated at $7.2 million under it, the former controlled 1.31% of total outstanding shares. On the other hand, KraneShares CSI China Internet ETF held about 1.05% of the shares, roughly 4.11 million shares worth around $5.79 million.
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