LexinFintech (LX) Upgraded by BNP Paribas to “Buy”

BNP Paribas upgraded shares of LexinFintech (NASDAQ:LX) from a hold rating to a buy rating in a research note released on Friday morning, Benzinga reports. They currently have $12.60 target price on the stock.

A number of other research firms also recently weighed in on LX. Zacks Investment Research raised LexinFintech from a strong sell rating to a buy rating and set a $11.00 price objective on the stock in a report on Saturday, February 2nd. ValuEngine raised LexinFintech from a sell rating to a hold rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. LexinFintech presently has a consensus rating of Buy and an average target price of $13.87.

Shares of LX opened at $12.45 on Friday. LexinFintech has a 12-month low of $6.48 and a 12-month high of $18.34. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.28 and a current ratio of 1.29. The stock has a market cap of $2.04 billion, a P/E ratio of 7.78 and a beta of 2.33.

LexinFintech (NASDAQ:LX) last issued its quarterly earnings results on Thursday, March 14th. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $3.79. LexinFintech had a return on equity of 58.62% and a net margin of 22.39%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.11 billion. LexinFintech’s quarterly revenue was up 31.4% compared to the same quarter last year. Analysts anticipate that LexinFintech will post 1.64 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LX. FMR LLC boosted its holdings in LexinFintech by 254.8% during the fourth quarter. FMR LLC now owns 3,782,056 shares of the company’s stock valued at $27,420,000 after purchasing an additional 2,715,988 shares in the last quarter. Discovery Value Fund acquired a new stake in LexinFintech during the fourth quarter valued at approximately $8,494,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in LexinFintech during the first quarter valued at approximately $6,577,000. New Silk Road Investment PTE Ltd. acquired a new stake in LexinFintech during the first quarter valued at approximately $2,898,000. Finally, Marshall Wace LLP acquired a new position in shares of LexinFintech in the 3rd quarter worth approximately $941,000. 8.98% of the stock is currently owned by institutional investors.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile.com, a retail and online consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms.

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