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home / news releases / QFIN - Qifu Technology: Turning Bullish On Revenue Beat And New Buyback Plan (Rating Upgrade)

QFIN - Qifu Technology: Turning Bullish On Revenue Beat And New Buyback Plan (Rating Upgrade)

360 Finance Inc.

2024-03-15 12:40:37 ET

Summary

  • QFIN's Q4 2023 top line exceeded the consensus estimate by +6%, and the company has guided for a +20% YoY growth in its bottom line for Q1 2024.
  • Qifu Technology has announced a new $350 million share repurchase program that will be in effect for a year beginning in April 2024.
  • There is the potential for QFIN to command a higher P/E multiple, considering its above-expectations fourth quarter revenue and its aggressive capital return initiatives.

Elevator Pitch

Qifu Technology's ( QFIN ) stock is awarded a Buy investment rating. My earlier December 22, 2023 write-up drew attention to Qifu Technology's "fundamentals and valuations."...

For further details see:

Qifu Technology: Turning Bullish On Revenue Beat And New Buyback Plan (Rating Upgrade)
Stock Information
Company Name: 360 Finance Inc.
Stock Symbol: QFIN
Market: NASDAQ
Website: ir.360jinrong.net
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