LexinFintech Holdings Ltd. (NASDAQ:LX) is one of the best performers on the stock market today. At current price of $9.76, the shares have already added 0.52 points (5.63% higher) from its previous close of $9.24. Should you buy or avoid them? The stock sets an active trading volume day with a reported 442692 contracts so far this session. LX shares had a relatively better volume day versus average trading capacity of 955.82 thousand shares, but with a 57.92 million float and a 2.1% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for LX stock indicates that the average analyst price target is $17.66 per share. This means the stock has a potential increase of 80.94% from where the LX share price has been trading recently which is between $9.0111 and $9.39.
During the recent trading session for LexinFintech Holdings Ltd. (NASDAQ:LX), the company witnessed their stock rise $0.86 over a week and tumble down $-1.76 from the price 20 days ago. When compared to their established 52-week high of $14.66, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/04/19. The recent low of $6.48 stood for a -33.42% since 11/12/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for LexinFintech Holdings Ltd., the two-week RSI stands at 48.61. This figure suggests that LX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current LX readings is similarly very revealing as it has a stochastic reading of 30.71% at this stage. This figure means that LX share price today is being neutral.
Technical chart claims that LexinFintech Holdings Ltd. (LX) would settle between $9.42/share to $9.59/share level. However, if the stock price goes below the $9.04 mark, then the market for LexinFintech Holdings Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $8.83 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.28. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Credit Suisse, assumed coverage of LX assigning Outperform rating, according to their opinion released on October 09. Morgan Stanley, analysts launched coverage of LexinFintech Holdings Ltd. (NASDAQ:LX) stock with a Equal-Weight recommendation, according to their flash note issued to investors on December 11. Analysts at Goldman released an upgrade from Neutral to Buy for the stock, in a research note that dated back to November 23.
LX equity has an average rating of 2.13, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated LexinFintech Holdings Ltd. (NASDAQ:LX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, LX stock price is currently trading at 4.18X forward 12-month Consensus EPS estimates, and its P/E ratio is 5.5 while for the average stock in the same group, the multiple is 20.7. LexinFintech Holdings Ltd. current P/B ratio of 2.2 means it is trading at a discount against its industry’s 4.6.
LexinFintech Holdings Ltd. (LX)’s current-quarter revenues are projected to climb by nearly 24.8% to hit $340800, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 13.3% from $1.1 billion to a noteworthy $1.25 billion. At the other end of the current quarter income statement, LexinFintech Holdings Ltd. is expected to see its adjusted earnings surge by roughly 69% to hit $0.49 per share. For the fiscal year, LX’s earnings are projected to climb by roughly 10.1% to hit $1.85 per share.