Jianpu Technology (NYSE:JT) Downgraded by Zacks Investment Research

Share on StockTwits

Zacks Investment Research cut shares of Jianpu Technology (NYSE:JT) from a buy rating to a hold rating in a report published on Saturday, Zacks.com reports.

According to Zacks, “Jianpu Technology Inc. is an open platform for discovery and recommendation of financial products primarily in China. The Company offers loan applications, credit card services and sales and marketing solutions. It serves credit information providers, payment companies and e-commerce platforms. Jianpu Technology Inc. is based in Beijing, China. “

Several other brokerages have also issued reports on JT. ValuEngine raised Jianpu Technology from a hold rating to a buy rating in a research report on Tuesday, July 2nd. TheStreet lowered Jianpu Technology from a c- rating to a d+ rating in a research report on Monday, July 22nd. Finally, Goldman Sachs Group lowered Jianpu Technology from a buy rating to a neutral rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $6.75.

JT opened at $3.55 on Friday. Jianpu Technology has a one year low of $3.43 and a one year high of $7.97. The company has a market cap of $614.94 million, a price-to-earnings ratio of -25.36 and a beta of 1.40. The firm’s 50 day simple moving average is $3.76.

Jianpu Technology (NYSE:JT) last announced its earnings results on Tuesday, May 28th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Jianpu Technology had a negative return on equity of 5.41% and a negative net margin of 3.95%. The firm had revenue of $97.58 million during the quarter, compared to analyst estimates of $90.04 million. On average, research analysts expect that Jianpu Technology will post 0.09 EPS for the current year.

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Jianpu Technology by 800.6% in the 2nd quarter. BlackRock Inc. now owns 492,388 shares of the company’s stock worth $1,841,000 after purchasing an additional 437,712 shares during the period. Northern Trust Corp bought a new position in Jianpu Technology in the 2nd quarter worth $239,000. Public Employees Retirement System of Ohio bought a new position in Jianpu Technology in the 2nd quarter worth $60,000. Renaissance Technologies LLC raised its holdings in Jianpu Technology by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 929,000 shares of the company’s stock worth $3,474,000 after purchasing an additional 203,034 shares during the period. Finally, Jupiter Asset Management Ltd. raised its holdings in Jianpu Technology by 7.2% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,086,761 shares of the company’s stock worth $4,032,000 after purchasing an additional 73,312 shares during the period. Institutional investors own 16.65% of the company’s stock.

Jianpu Technology Company Profile

Jianpu Technology Inc operates a platform that provides online discovery and recommendation services for financial products in the People's Republic of China. Its platform allows users to access to financial products, including consumer and other loans, credit cards, and wealth management products.

See Also: Net Asset Value

Get a free copy of the Zacks research report on Jianpu Technology (JT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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