OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) Receives Consensus “Hold” Recommendation From Brokerages

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT – Get Rating) has been assigned a consensus rating of “Hold” by the six research firms that currently cover the stock, reports Marketbeat Ratings. One research analyst rated the stock with a sell recommendation, three gave the company a hold recommendation and two gave the company a buy recommendation. The average 1-year target price among analysts who have covered the stock over the past year is $9.50.

The OCFT has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of OneConnect Financial Technology from a “neutral” rating to an “underweight” rating in a Monday, March 14 research report. HSBC downgraded shares of OneConnect Financial Technology from a “buy” rating to a “hold” rating in a Thursday, February 24 research report. Finally, Zacks Investment Research upgraded shares of OneConnect Financial Technology from a “sell” rating to a “hold” rating in a Thursday, April 21 research report.

Shares of OCFT rose $0.05 in Friday trading, hitting $1.41. The company’s shares had a trading volume of 952,143 shares, compared to its average volume of 1,576,370. The company has a market capitalization of $549.89 million, a price-earnings ratio of -2.66 and a beta of 0.40. The stock’s 50-day moving average price is $1.44 and its 200-day moving average price is $1.87. OneConnect Fintech has a 1-year minimum of $0.99 and a 1-year maximum of $16.53.

OneConnect Financial Technology (NYSE:OCFT – Get Rating) last released its quarterly results on Wednesday, May 25. The company reported ($0.76) EPS for the quarter, meeting the consensus estimate of ($0.76). OneConnect Financial Technology posted a negative net margin of 31.00% and a negative return on equity of 29.06%. In the same quarter a year earlier, the company posted ($0.13) earnings per share. Sell-side analysts expect OneConnect Financial Technology to post EPS of -0.41 for the current fiscal year.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of OneConnect Financial Technology by 6.8% during Q3. BlackRock Inc. now owns 5,046,085 shares of the company worth $20,691,000 after purchasing an additional 322,993 shares during the period. Vanguard Group Inc. increased its stake in shares of OneConnect Financial Technology by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 4,479,660 shares of the company worth $6,316,000 after purchasing an additional 139,784 shares during the period. Krane Funds Advisors LLC increased its stake in OneConnect Financial Technology by 22.7% in Q1. Krane Funds Advisors LLC now owns 4,107,906 shares of the company valued at $5,792,000 after acquiring an additional 760,602 shares in the last quarter. State Street Corp increased its stake in OneConnect Financial Technology by 66.6% in the fourth quarter. State Street Corp now owns 4,019,253 shares of the company valued at $9,928,000 after acquiring an additional 1,607,452 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in OneConnect Financial Technology by 1.7% in the 4th quarter. Baillie Gifford & Co. now owns 3,024,439 shares of the company valued at $7,470,000 after acquiring an additional 51,293 shares in the last quarter. 14.91% of the shares are currently held by institutional investors and hedge funds.

About OneConnect Financial Technology (Get a rating)

OneConnect Financial Technology Co, Ltd. provides fintech solutions based on a cloud platform, as well as online information and operational support services for financial institutions in the People’s Republic of China. It offers digital retail banking, digital commercial banking, digital auto and life insurance, artificial intelligence, as well as sales management, risk management and operations support services. .

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Analyst Recommendations for Financial Technology OneConnect (NYSE: OCFT)

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