Zacks Investment Research upgraded shares of LexinFintech (NASDAQ:LX) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. They currently have $8.75 price objective on the stock.
According to Zacks, “LexinFintech Holdings Ltd. is an online consumer finance platform for educated young adults primarily in China. The Company provide technologies including big data, cloud computing and artificial intelligence. LexinFintech Holdings Ltd. is based in China. “
Separately, CICC Research initiated coverage on LexinFintech in a research report on Tuesday, May 11th. They set an outperform rating and a $12.80 target price for the company. Seven investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average target price of $12.02.
LexinFintech (NASDAQ:LX) last announced its earnings results on Thursday, March 18th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The company had revenue of $464.85 million for the quarter. LexinFintech had a return on equity of 12.28% and a net margin of 5.25%. On average, analysts predict that LexinFintech will post 0.51 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Discovery Value Fund raised its stake in shares of LexinFintech by 17.2% in the fourth quarter. Discovery Value Fund now owns 723,372 shares of the company’s stock valued at $4,847,000 after purchasing an additional 106,000 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in LexinFintech during the fourth quarter worth $1,597,000. SG Americas Securities LLC raised its stake in LexinFintech by 5.8% during the fourth quarter. SG Americas Securities LLC now owns 406,399 shares of the company’s stock worth $2,723,000 after acquiring an additional 22,312 shares in the last quarter. Oceanlink Management LTD. acquired a new position in LexinFintech during the fourth quarter worth $68,578,000. Finally, Northern Trust Corp raised its stake in LexinFintech by 219.4% during the fourth quarter. Northern Trust Corp now owns 155,716 shares of the company’s stock worth $1,043,000 after acquiring an additional 106,967 shares in the last quarter.
LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumption and consumer finance platform for young professionals in the People's Republic of China. The company operates Fenqile.com, a consumption and 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; and Le Card, a membership platform, which offers savings, benefits, and membership privileges to food and beverage, apparel, hospitality, and leisure sectors.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.