Qiwi (QIWI) Upgraded to “Overweight” by JPMorgan Chase & Co.

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JPMorgan Chase & Co. upgraded shares of Qiwi (NASDAQ:QIWI) from a neutral rating to an overweight rating in a report released on Thursday morning, Briefing.com Automated Import reports. They currently have $20.00 target price on the credit services provider’s stock, up from their previous target price of $19.00.

Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Qiwi from a c+ rating to a b- rating in a report on Thursday, March 21st. BidaskClub cut shares of Qiwi from a strong-buy rating to a buy rating in a report on Thursday, February 14th. Zacks Investment Research upgraded shares of Qiwi from a strong sell rating to a hold rating in a report on Wednesday, April 17th. Finally, ValuEngine upgraded shares of Qiwi from a sell rating to a hold rating in a report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Qiwi has an average rating of Hold and an average price target of $18.00.

NASDAQ QIWI traded down $0.19 during trading on Thursday, reaching $15.80. 26,226 shares of the stock traded hands, compared to its average volume of 137,885. The stock has a market cap of $831.10 million, a P/E ratio of 16.42 and a beta of 1.52. Qiwi has a fifty-two week low of $11.61 and a fifty-two week high of $19.29.

Qiwi (NASDAQ:QIWI) last released its quarterly earnings results on Thursday, May 16th. The credit services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.14. The company had revenue of $82.90 million during the quarter. Qiwi had a net margin of 12.02% and a return on equity of 15.29%. On average, analysts forecast that Qiwi will post 1.31 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. bought a new stake in shares of Qiwi in the first quarter worth $154,000. Essex Investment Management Co. LLC bought a new stake in Qiwi during the fourth quarter worth $268,000. Perpetual Ltd raised its position in Qiwi by 8.2% during the fourth quarter. Perpetual Ltd now owns 88,643 shares of the credit services provider’s stock worth $1,213,000 after acquiring an additional 6,734 shares in the last quarter. Renaissance Technologies LLC raised its position in Qiwi by 114.8% during the third quarter. Renaissance Technologies LLC now owns 322,780 shares of the credit services provider’s stock worth $4,251,000 after acquiring an additional 172,480 shares in the last quarter. Finally, Morgan Stanley raised its position in Qiwi by 34.1% during the third quarter. Morgan Stanley now owns 113,938 shares of the credit services provider’s stock worth $1,501,000 after acquiring an additional 28,975 shares in the last quarter. Institutional investors own 26.74% 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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