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home / news releases / FINV - FinVolution stock climbs after Q1 earnings take rate outlook Citi upgrade

FINV - FinVolution stock climbs after Q1 earnings take rate outlook Citi upgrade

PPDAI Group Inc. American Depositary Shares each representing five Class A
FinVolution (NYSE:FINV) stock is jumping 7% in Wednesday late morning trading after the company posted Q1 earnings and reiterated its full-year loan volume target of RMB 17.5B-RMB 180B. Citigroup analyst Julia Cheung, though, upgraded the Chinese fintech to Buy on its improved take rate outlook. Management guided a net take rate of ~3.7%-3.8% for FY2022 on the back of 24% loan pricing, up from its previous outlook of 3.6% take rate and 23% loan pricing, the analyst said. Operating efficiency and funding costs may provide room for improvement, she added. Also see the transcript of FinVolution's (FINV) earnings call here.  Cheung's Buy rating contrasts with the Quant rating of Hold and aligns with the average Wall Street rating of Buy. SA contributor Individual Trader explains why FinVolution (FINV) is a compelling long-term fintech investment

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FinVolution stock climbs after Q1 earnings, take rate outlook, Citi upgrade
Stock Information
Company Name: PPDAI Group Inc. American Depositary Shares each representing five Class A
Stock Symbol: FINV
Market: NYSE
Website: ir.finvgroup.com
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