PPDAI Group (NYSE:PPDF) Raised to “Buy” at UBS Group

UBS Group upgraded shares of PPDAI Group (NYSE:PPDF) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, The Fly reports.

Several other research analysts also recently weighed in on PPDF. ValuEngine raised shares of PPDAI Group from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Credit Suisse Group reissued an outperform rating and issued a $5.80 target price on shares of PPDAI Group in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. PPDAI Group currently has an average rating of Buy and an average price target of $5.18.

PPDAI Group stock opened at $2.98 on Wednesday. The firm’s 50 day simple moving average is $2.94 and its 200-day simple moving average is $4.03. The company has a market cap of $874.21 million, a P/E ratio of 2.24 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 2.22. PPDAI Group has a fifty-two week low of $2.62 and a fifty-two week high of $6.41.

PPDAI Group (NYSE:PPDF) last released its earnings results on Tuesday, August 20th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($1.64). The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.33 billion. PPDAI Group had a return on equity of 45.31% and a net margin of 52.42%. PPDAI Group’s quarterly revenue was up 46.6% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its position in PPDAI Group by 2.8% during the second quarter. Wells Fargo & Company MN now owns 10,083,850 shares of the company’s stock valued at $43,865,000 after purchasing an additional 273,000 shares in the last quarter. JPMorgan Chase & Co. grew its position in PPDAI Group by 266.6% during the second quarter. JPMorgan Chase & Co. now owns 1,781,366 shares of the company’s stock valued at $7,589,000 after purchasing an additional 1,295,462 shares in the last quarter. Krane Funds Advisors LLC grew its position in PPDAI Group by 48.3% during the second quarter. Krane Funds Advisors LLC now owns 1,602,712 shares of the company’s stock valued at $6,972,000 after purchasing an additional 522,218 shares in the last quarter. Acadian Asset Management LLC grew its position in PPDAI Group by 855.3% during the second quarter. Acadian Asset Management LLC now owns 1,077,495 shares of the company’s stock valued at $4,684,000 after purchasing an additional 964,699 shares in the last quarter. Finally, BlackRock Inc. grew its position in PPDAI Group by 28,560.7% during the second quarter. BlackRock Inc. now owns 758,361 shares of the company’s stock valued at $3,300,000 after purchasing an additional 755,715 shares in the last quarter. 10.47% of the stock is currently owned by hedge funds and other institutional investors.

About PPDAI Group

PPDAI Group Inc, an investment holding company, operates an online consumer finance marketplace through its platform in the People's Republic of China. It provides services to match borrowers with investors and facilitate loan transactions on its marketplace through the lifecycle of loans. The company offers standard, handy cash, consumption, and other loan products; and investment services to investors and institutional funding partners.

See Also: Trade Deficit

The Fly

Receive News & Ratings for PPDAI Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPDAI Group and related companies with MarketBeat.com's FREE daily email newsletter.