Qiwi (QIWI) Raised to Sell at ValuEngine

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Qiwi (NASDAQ:QIWI) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday.

Several other analysts also recently issued reports on the company. Credit Suisse Group downgraded Qiwi from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $18.00 to $14.00 in a research report on Monday, May 28th. Zacks Investment Research downgraded Qiwi from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. BidaskClub downgraded Qiwi from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Finally, TheStreet upgraded Qiwi from a “c+” rating to a “b-” rating in a research report on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $18.67.

Shares of NASDAQ:QIWI opened at $13.69 on Wednesday. Qiwi has a 52-week low of $12.50 and a 52-week high of $20.05. The firm has a market capitalization of $622.79 million, a PE ratio of 13.16 and a beta of 2.74.

Qiwi (NASDAQ:QIWI) last issued its quarterly earnings data on Thursday, August 16th. The credit services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). Qiwi had a net margin of 12.66% and a return on equity of 15.13%. The company had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the prior year, the company earned $17.70 earnings per share. The firm’s revenue was up 53.7% compared to the same quarter last year. sell-side analysts anticipate that Qiwi will post 0.95 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dumac Inc. lifted its position in Qiwi by 56.0% during the first quarter. Dumac Inc. now owns 8,492 shares of the credit services provider’s stock worth $162,000 after buying an additional 3,047 shares during the period. Engineers Gate Manager LP purchased a new position in Qiwi during the second quarter worth about $158,000. GSA Capital Partners LLP purchased a new position in Qiwi during the first quarter worth about $217,000. Handelsbanken Fonder AB purchased a new position in Qiwi during the second quarter worth about $268,000. Finally, Capital Fund Management S.A. purchased a new position in Qiwi during the second quarter worth about $359,000. Hedge funds and other institutional investors own 28.44% of the company’s stock.

About Qiwi

Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. The company offers payment services across online, mobile, and physical channels through a network of approximately 109,000 kiosks and 43,000 terminals that run its proprietary software.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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