QFIN Stock Recent News
QFIN LATEST HEADLINES
SHANGHAI, China, March 04, 2025 (GLOBE NEWSWIRE) -- Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading Credit-Tech platform in China, today announced that it will report its unaudited financial results for the fourth quarter and full year ended December 31, 2024, before U.S. markets open on Monday, March 17, 2025.
The introduction of the cutting-edge, chip-efficient AI chat model DeepSeek sent markets into a frenzy in late January, sparking an American AI sell-off. Featuring twice the computing power at a fraction of the cost of models like ChatGPT, the introduction of DeepSeek was particularly painful for chip manufacturer NVIDIA Co. NASDAQ: NVDA, whose shares fell more than 14% on the date of DeepSeek's introduction.
Given the recent rally in QFIN shares, we assess its current position to determine whether to buy it or wait for a correction.
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Qifu Technology, Inc. (QFIN) made it through our "Recent Price Strength" screen and could be a great choice for investors looking to make a profit from stocks that are currently on the move.
Investors interested in stocks from the Technology Services sector have probably already heard of Qifu Technology, Inc. (QFIN) and Climb Global Solutions (CLMB). But which of these two stocks offers value investors a better bang for their buck right now?
Qifu Technology's Q3 2024 performance shows strong revenue growth, a significant increase in net income, and an expanding user base, reinforcing my "Strong Buy" rating. Qifu's business model leverages AI, ML, and big data to evaluate borrowers, targeting young urban Chinese professionals, resulting in profitable and expanding market share. The stock is undervalued with a forward P/E GAAP ratio of 6.33 versus the sector median of 12.50, indicating significant growth potential.
Qifu Tech is resilient despite Qihoo 360's inclusion on the US DoD CMC list; potential sanctions on owners could impact QIFU's share price. QFIN's 3Q24 results show strong loan growth, improved asset quality, and prudent risk management, with net income well ahead of consensus. The company offers a compelling valuation at 5.5x 2025E P/E and a 12% combined buyback and dividend yield, ideal for yield-seeking investors.
If you've made it this far, you've passed the test. Chinese stocks aren't very popular with stateside investors these days.
Qifu Technology can benefit from increased demand for its credit-based offerings as interest rates become more attractive for borrowers. The company's expected growth could be upgraded due to economic stimulus and Qifu's effective strategies, thus driving the stock higher. Qifu Technology is trading at a bargain valuation, providing significant potential for price-to-earnings (PE) expansion as it continues to grow.