LexinFintech (NASDAQ:LX) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of LexinFintech (NASDAQ:LX) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

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, UBS Group downgraded LexinFintech from a buy rating to a neutral rating and set a $4.30 target price for the company. in a report on Monday, December 20th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and an average target price of $10.16.

LexinFintech stock opened at $3.49 on Wednesday. LexinFintech has a fifty-two week low of $3.35 and a fifty-two week high of $15.42. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.62 and a current ratio of 1.63. The company has a market capitalization of $635.32 million, a P/E ratio of 1.79 and a beta of 0.84. The stock has a 50-day simple moving average of $4.29 and a 200-day simple moving average of $6.24.

LexinFintech (NASDAQ:LX) last posted its earnings results on Wednesday, November 10th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.14. LexinFintech had a return on equity of 38.73% and a net margin of 21.19%. The business had revenue of $460.75 million during the quarter. As a group, analysts forecast that LexinFintech will post 2.1 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp increased its position in LexinFintech by 1.5% during the 2nd quarter. Northern Trust Corp now owns 169,431 shares of the company’s stock worth $2,076,000 after purchasing an additional 2,456 shares during the period. Grace Capital grew its holdings in shares of LexinFintech by 8.4% in the 3rd quarter. Grace Capital now owns 32,100 shares of the company’s stock worth $192,000 after acquiring an additional 2,500 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of LexinFintech by 4.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 78,500 shares of the company’s stock worth $962,000 after acquiring an additional 3,100 shares during the period. NEXT Financial Group Inc grew its holdings in shares of LexinFintech by 19.6% in the 3rd quarter. NEXT Financial Group Inc now owns 29,900 shares of the company’s stock worth $176,000 after acquiring an additional 4,900 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of LexinFintech by 2.2% in the 2nd quarter. California Public Employees Retirement System now owns 247,760 shares of the company’s stock worth $3,035,000 after acquiring an additional 5,323 shares during the period. Institutional investors own 24.22% of the company’s stock.

LexinFintech Company Profile

Lexinfintech Holdings Ltd. engages in the provision of online consumer finance platforms. Through its subsidiaries, it provides online direct sales with installment payment terms; installment purchase loans; and personal installment loans. Its services are offered though its online consumer finance platform, www.fenqile.com; and mobile application.

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Analyst Recommendations for LexinFintech (NASDAQ:LX)

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