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.
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.
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.
Featured Article: Stop Order Uses For Individual Investors
Receive News & Ratings for LexinFintech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LexinFintech and related companies with MarketBeat.com's FREE daily email newsletter.