Jianpu Technology (NYSE:JT) Rating Increased to Buy at Zacks Investment Research

Jianpu Technology (NYSE:JT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $4.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 20.48% from the company’s current price.

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. “

A number of other equities analysts also recently commented on JT. TheStreet downgraded Jianpu Technology from a “c-” rating to a “d+” rating in a report on Monday, July 22nd. ValuEngine upgraded Jianpu Technology from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Goldman Sachs Group lowered Jianpu Technology from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Jianpu Technology presently has an average rating of “Buy” and a consensus price target of $6.75.

JT opened at $3.32 on Tuesday. The firm’s fifty day moving average is $3.74. Jianpu Technology has a 52 week low of $3.28 and a 52 week high of $7.97.

Jianpu Technology (NYSE:JT) last released its earnings results on Tuesday, May 28th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $90.04 million. Research analysts expect that Jianpu Technology will post 0.09 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Jianpu Technology in the 1st quarter worth $40,000. Stevens Capital Management LP acquired a new position in shares of Jianpu Technology in the 2nd quarter worth $54,000. Public Employees Retirement System of Ohio purchased a new position in shares of Jianpu Technology during the second quarter valued at $60,000. Vanguard Group Inc. purchased a new position in shares of Jianpu Technology during the second quarter valued at $71,000. Finally, Northern Trust Corp purchased a new position in shares of Jianpu Technology during the second quarter valued at $239,000. 16.65% of the stock is currently owned by hedge funds and other institutional investors.

About Jianpu Technology

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.

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