Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Shares Gap Up – Here’s Why

Joint Stock Company Kaspi.kz (NASDAQ:KSPI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $92.87, but opened at $96.54. Joint Stock Company Kaspi.kz shares last traded at $94.87, with a volume of 65,426 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citigroup assumed coverage on Joint Stock Company Kaspi.kz in a research report on Monday, November 4th. They set a “buy” rating and a $140.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Joint Stock Company Kaspi.kz from $154.00 to $137.00 and set an “overweight” rating for the company in a report on Monday, December 2nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Joint Stock Company Kaspi.kz has a consensus rating of “Buy” and a consensus target price of $147.20.

Joint Stock Company Kaspi.kz Trading Up 3.2 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.96 and a current ratio of 0.96. The company has a 50-day simple moving average of $101.99 and a two-hundred day simple moving average of $113.09.

Joint Stock Company Kaspi.kz (NASDAQ:KSPI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.31). The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Research analysts forecast that Joint Stock Company Kaspi.kz will post 10.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Driehaus Capital Management LLC boosted its position in Joint Stock Company Kaspi.kz by 6.8% during the second quarter. Driehaus Capital Management LLC now owns 22,011 shares of the company’s stock worth $2,840,000 after purchasing an additional 1,400 shares during the period. Public Employees Retirement System of Ohio bought a new position in Joint Stock Company Kaspi.kz in the 3rd quarter valued at about $7,942,000. Renaissance Capital LLC boosted its holdings in shares of Joint Stock Company Kaspi.kz by 839.0% during the third quarter. Renaissance Capital LLC now owns 96,058 shares of the company’s stock worth $10,181,000 after acquiring an additional 85,828 shares during the period. Finally, Baillie Gifford & Co. grew its position in shares of Joint Stock Company Kaspi.kz by 39.0% in the third quarter. Baillie Gifford & Co. now owns 4,649,484 shares of the company’s stock valued at $492,799,000 after purchasing an additional 1,305,625 shares during the last quarter. 32.20% of the stock is currently owned by institutional investors.

Joint Stock Company Kaspi.kz Company Profile

Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in the Republic of Kazakhstan. It operates through three segments: Payments Platform, Marketplace Platform, and Fintech Platform. The Payments Platform segment facilities transactions between customers and merchants.