PPDAI Group (PPDF) Raised to Buy at Zacks Investment Research

PPDAI Group (NYSE:PPDF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $3.75 price objective on the stock. Zacks Investment Research‘s target price suggests a potential upside of 2.18% from the company’s previous close.

According to Zacks, “PPDAI Group Inc. is an online consumer finance marketplace primarily in China. PPDAI Group Inc. is based in Shanghai, China. “

Other equities analysts have also issued research reports about the stock. Morgan Stanley assumed coverage on shares of PPDAI Group in a research report on Tuesday, December 11th. They issued a “weight” rating and a $6.00 price target on the stock. ValuEngine raised PPDAI Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.

Shares of PPDAI Group stock opened at $3.67 on Tuesday. PPDAI Group has a 52-week low of $2.85 and a 52-week high of $8.56. The stock has a market cap of $1.02 billion, a PE ratio of -1.87 and a beta of 1.32.

PPDAI Group (NYSE:PPDF) last released its quarterly earnings data on Tuesday, November 20th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($1.00). PPDAI Group had a return on equity of 25.97% and a net margin of 29.39%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $865.25 million. During the same period in the previous year, the company earned ($2.10) EPS. PPDAI Group’s revenue was down 13.1% on a year-over-year basis. Research analysts predict that PPDAI Group will post 1.04 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Bank of Montreal Can raised its position in shares of PPDAI Group by 13.9% in the 4th quarter. Bank of Montreal Can now owns 29,962 shares of the company’s stock worth $108,000 after acquiring an additional 3,662 shares in the last quarter. Legal & General Group Plc bought a new stake in PPDAI Group during the third quarter worth approximately $35,000. Engineers Gate Manager LP purchased a new position in shares of PPDAI Group during the third quarter valued at approximately $107,000. BlackRock Inc. boosted its holdings in shares of PPDAI Group by 37.8% in the third quarter. BlackRock Inc. now owns 74,125 shares of the company’s stock valued at $399,000 after purchasing an additional 20,344 shares during the period. Finally, BP PLC lifted its holdings in PPDAI Group by 43.4% during the third quarter. BP PLC now owns 112,364 shares of the company’s stock worth $605,000 after buying an additional 34,006 shares during the period. Institutional investors own 7.24% of the company’s stock.

About PPDAI Group

PPDAI Group Inc, an investment holding company, operates an online consumer finance marketplace through its platform in the People's Republic of China. It provides services to match borrowers with investors and facilitate loan transactions on its marketplace through the lifecycle of loans. The company offers standard and other loan products; and investment services to investors.

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