Qifu Technology (QFIN) Stock

Due to the recent rise in QFIN shares, we are evaluating its current status to decide if we should purchase it now or hold off until it drops in price.

Qifu Technology, Inc. (QFIN) has passed our "Recent Price Strength" test, making it a strong option for investors interested in stocks that are gaining momentum. This could be a good opportunity for those looking to earn profits.

Investors looking at stocks in the Technology Services sector may be familiar with Qifu Technology, Inc. (QFIN) and Climb Global Solutions (CLMB). The question is, which of these two stocks provides better value for investors at this moment?

Qifu Technology's performance in the third quarter of 2024 demonstrates impressive revenue growth, a notable rise in net income, and a growing user base, which supports my "Strong Buy" recommendation. The company's business model uses AI, machine learning, and big data to assess borrowers, focusing on young urban professionals in China, leading to increased profitability and market share. Additionally, the stock appears undervalued, with a forward P/E GAAP ratio of 6.33 compared to the sector median of 12.50, suggesting considerable growth opportunities.

Qifu Tech remains strong even with Qihoo 360 being added to the US DoD CMC list, although possible sanctions on its owners might affect QIFU's stock price. QFIN's results for the third quarter of 2024 indicate significant loan growth, better asset quality, and careful risk management, with net income surpassing expectations. The company presents an attractive valuation at 5.5 times the estimated price-to-earnings ratio for 2025 and offers a combined buyback and dividend yield of 12%, making it appealing for investors looking for returns.

Investors interested in Technology Services stocks may have come across Qifu Technology, Inc. (QFIN) and Climb Global Solutions (CLMB). However, which of these two stocks is more appealing to value investors?

SHANGHAI, China, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a top Credit-Tech platform in China, has shared new information about its plans to buy back shares.

Qifu Technology, Inc. (QFIN) might be a good option for investors interested in short-term gains from stocks that are fundamentally strong. It has successfully met the criteria of our short-term trading strategy.

With the recent increase in QFIN shares, we are assessing its current status to decide if you should invest in it or pass on it.