Qunar Cayman Islands Ltd (NASDAQ:QUNR)’s share price dropped 1.4% during mid-day trading on Friday . The stock traded as low as $29.19 and last traded at $29.20, with a volume of 60,086 shares changing hands. The stock had previously closed at $29.62.

QUNR has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Qunar Cayman Islands from $40.00 to $33.00 and set an “equal weight” rating for the company in a research note on Monday, June 20th. Zacks Investment Research raised shares of Qunar Cayman Islands from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Pacific Crest decreased their price target on shares of Qunar Cayman Islands from $57.00 to $51.00 and set an “outperform” rating for the company in a research note on Thursday, August 25th. Finally, Credit Agricole SA raised shares of Qunar Cayman Islands from a “sell” rating to an “underperform” rating in a research note on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.00.

The company has a 50 day moving average of $29.78 and a 200-day moving average of $34.09. The firm’s market capitalization is $4.22 billion.

Qunar Cayman Islands (NASDAQ:QUNR) last released its earnings results on Wednesday, August 31st. The company reported ($0.72) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by $0.36. On average, analysts anticipate that Qunar Cayman Islands Ltd will post ($0.72) EPS for the current year.

A hedge fund recently raised its stake in Qunar Cayman Islands stock. BNP Paribas Arbitrage SA boosted its stake in shares of Qunar Cayman Islands Ltd (NASDAQ:QUNR) by 129.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,489 shares of the company’s stock after buying an additional 46,599 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.06% of Qunar Cayman Islands worth $4,350,000 as of its most recent filing with the SEC.

Qunar Cayman Islands Limited (Qunar) is engaged in offering mobile and online commerce platform for travel in China. The Company offers a range of travel products, including flights, hotels, vacations packages, attraction tickets and other travel related offerings. The Company offers Qunar Travel, which is a mobile application that enables its users to search for and purchase travel products.

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