LexinFintech (LX) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research lowered shares of LexinFintech (NASDAQ:LX) from a hold rating to a sell rating in a report released on Thursday morning.
According to Zacks, “LexinFintech Holdings Ltd. is an online consumer finance platform for educated young adults primarily in China. The Company provide technologies including big data, cloud computing and artificial intelligence. LexinFintech Holdings Ltd. is based in China. “
LX has been the topic of a number of other research reports. Goldman Sachs Group raised LexinFintech from a neutral rating to a buy rating in a research note on Wednesday, November 21st. Bank of America decreased their price objective on LexinFintech from $21.00 to $18.00 and set a buy rating on the stock in a research note on Monday, August 27th.
LexinFintech (NASDAQ:LX) last posted its quarterly earnings data on Wednesday, November 14th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $1.69. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.65 billion. LexinFintech had a return on equity of 47.96% and a net margin of 15.33%. The company’s revenue was up 16.6% on a year-over-year basis. Equities analysts predict that LexinFintech will post 0.82 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of LX. Krane Funds Advisors LLC acquired a new stake in LexinFintech in the 2nd quarter worth about $4,783,000. Raymond James & Associates acquired a new stake in LexinFintech in the 2nd quarter worth about $294,000. Bank of America Corp DE acquired a new stake in LexinFintech in the 2nd quarter worth about $1,250,000. Jane Street Group LLC acquired a new stake in LexinFintech in the 2nd quarter worth about $448,000. Finally, Bank of Montreal Can acquired a new stake in LexinFintech in the 3rd quarter worth about $187,000. 6.71% of the stock is currently owned by hedge funds and other institutional investors.
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, an online consumer finance platform that offers personal installment loans, installment purchase loans, and other loan products, as well as Le Card credit line.
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