In the latest trading session, 360 DigiTech, Inc. Sponsored ADR (QFIN) closed at $19.58, marking a -1.31% move from the previous day. This move lagged the S&P 500’s daily loss of 1.22%. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.53%.
Coming into today, shares of the company had lost 10.15% in the past month. In that same time, the Business Services sector lost 24.14%, while the S&P 500 lost 6.58%.
360 DigiTech, Inc. Sponsored ADR will be looking to display strength as it nears its next earnings release. On that day, 360 DigiTech, Inc. Sponsored ADR is projected to report earnings of $1.19 per share, which would represent a year-over-year decline of 7.75%.
Investors should also note any recent changes to analyst estimates for 360 DigiTech, Inc. Sponsored ADR. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 360 DigiTech, Inc. Sponsored ADR is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that 360 DigiTech, Inc. Sponsored ADR has a Forward P/E ratio of 4.13 right now. This represents a discount compared to its industry’s average Forward P/E of 21.68.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow QFIN in the coming trading sessions, be sure to utilize Zacks.com.
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