LexinFintech Holdings Ltd – (NASDAQ:LX) Given Consensus Recommendation of “Buy” by Analysts

Shares of LexinFintech Holdings Ltd – (NASDAQ:LX) have been assigned an average rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $15.15.

LX has been the subject of a number of recent research reports. Zacks Investment Research upgraded LexinFintech from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday, July 26th. China Renaissance Securities reissued a “buy” rating and issued a $18.00 price objective on shares of LexinFintech in a research note on Tuesday, May 14th. ValuEngine downgraded shares of LexinFintech from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Finally, BNP Paribas raised shares of LexinFintech from a “hold” rating to a “buy” rating and set a $12.60 price objective for the company in a research note on Friday, May 10th.

NASDAQ:LX traded up $0.10 during mid-day trading on Friday, reaching $10.15. 204,265 shares of the stock were exchanged, compared to its average volume of 517,568. The company has a 50 day simple moving average of $10.94 and a 200-day simple moving average of $11.62. The stock has a market capitalization of $1.65 billion, a P/E ratio of 6.34 and a beta of 1.99. The company has a quick ratio of 1.44, a current ratio of 1.45 and a debt-to-equity ratio of 0.04. LexinFintech has a 1 year low of $6.48 and a 1 year high of $14.66.

Large investors have recently bought and sold shares of the business. Penserra Capital Management LLC grew its stake in LexinFintech by 1.7% in the 1st quarter. Penserra Capital Management LLC now owns 193,159 shares of the company’s stock valued at $2,027,000 after buying an additional 3,157 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of LexinFintech during the 1st quarter worth approximately $6,044,000. SG Americas Securities LLC acquired a new stake in shares of LexinFintech during the 2nd quarter worth approximately $1,162,000. TT International acquired a new stake in shares of LexinFintech during the 1st quarter worth approximately $67,505,000. Finally, Granite Point Capital Management L.P. raised its position in shares of LexinFintech by 262.3% during the 2nd quarter. Granite Point Capital Management L.P. now owns 144,901 shares of the company’s stock worth $1,617,000 after purchasing an additional 104,901 shares during the period. Institutional investors and hedge funds own 17.28% of the company’s stock.

About LexinFintech

LexinFintech Holdings Ltd., through its subsidiaries, operates as an online consumer finance platform for young adults in the People's Republic of China. The company operates Fenqile.com, a retail and online consumer finance platform that offers installment purchase loans, personal installment loans, and other loan products, as well as provides online direct sales with installment payment terms.

Featured Story: Economic Bubble

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