Qiwi (QIWI) Rating Lowered to Hold at ValuEngine

Qiwi (NASDAQ:QIWI) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Qiwi from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 28th. VTB Capital raised shares of Qiwi from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Finally, BidaskClub cut shares of Qiwi from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Qiwi presently has an average rating of “Hold” and an average target price of $22.67.

Qiwi (QIWI) opened at $14.10 on Friday. Qiwi has a fifty-two week low of $11.60 and a fifty-two week high of $26.55. The company has a market cap of $638.96, a P/E ratio of 12.48 and a beta of 3.23.

Institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Qiwi during the second quarter worth approximately $201,000. Dynamic Technology Lab Private Ltd bought a new position in Qiwi in the third quarter valued at approximately $245,000. Ameriprise Financial Inc. bought a new position in Qiwi in the second quarter valued at approximately $260,000. Cubist Systematic Strategies LLC bought a new position in Qiwi in the third quarter valued at approximately $268,000. Finally, Wells Fargo & Company MN increased its stake in Qiwi by 110.5% in the second quarter. Wells Fargo & Company MN now owns 15,378 shares of the credit services provider’s stock valued at $380,000 after acquiring an additional 8,073 shares during the last quarter. 17.62% of the stock is currently owned by institutional investors.

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About Qiwi

QIWI plc is a provider of payment services in Russia and the Commonwealth of Independent States (CIS). The Company’s network enables payment services across physical, online and mobile channels. The Company operates in target markets and customer segments. As of December 31, 2016, the Company had deployed over 17.2 million virtual wallets, over 162,000 kiosks and terminals, and enabled merchants to accept over Russian rubles 70 billion cash and electronic payments monthly.

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