UBS Upgrades Qiwi (QIWI) to “Buy”

Qiwi (NASDAQ:QIWI) was upgraded by investment analysts at UBS from a “neutral” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $25.00 price objective on the credit services provider’s stock. UBS’s price target points to a potential upside of 35.21% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. BidaskClub upgraded Qiwi from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Zacks Investment Research upgraded Qiwi from a “sell” rating to a “hold” rating in a research note on Saturday, March 10th. Finally, ValuEngine upgraded Qiwi from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.25.

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Shares of QIWI stock opened at $18.49 on Thursday. The company has a market capitalization of $853.59, a P/E ratio of 17.78 and a beta of 2.71. Qiwi has a 1 year low of $13.66 and a 1 year high of $26.55.

Qiwi (NASDAQ:QIWI) last issued its quarterly earnings results on Wednesday, March 28th. The credit services provider reported $10.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $10.35. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Qiwi had a return on equity of 18.36% and a net margin of 15.11%. The firm’s revenue for the quarter was up 45.9% compared to the same quarter last year. During the same period in the previous year, the company posted $15.43 earnings per share. research analysts predict that Qiwi will post 1.08 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Invictus RG acquired a new position in Qiwi during the fourth quarter valued at approximately $215,000. Dynamic Technology Lab Private Ltd acquired a new position in Qiwi during the third quarter valued at approximately $245,000. Cubist Systematic Strategies LLC acquired a new position in Qiwi during the third quarter valued at approximately $268,000. Standard Life Aberdeen plc raised its position in Qiwi by 24.2% during the fourth quarter. Standard Life Aberdeen plc now owns 28,700 shares of the credit services provider’s stock valued at $497,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Northern Trust Corp raised its position in Qiwi by 19.4% during the second quarter. Northern Trust Corp now owns 20,283 shares of the credit services provider’s stock valued at $501,000 after purchasing an additional 3,296 shares in the last quarter. Institutional investors and hedge funds own 26.30% of the company’s stock.

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Qiwi Company Profile

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 provides payment services across physical, online, and mobile channels through a network of approximately 113,000 kiosks and 49,000 terminals that run its proprietary software.

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