Yirendai Ltd. (NYSE:YRD) had its price objective boosted by investment analysts at Needham & Company LLC from $42.00 to $50.00 in a report issued on Wednesday. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 23.00% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Citigroup Inc. began coverage on Yirendai in a research note on Tuesday. They set a “buy” rating on the stock. Macquarie began coverage on Yirendai in a research note on Tuesday. They set an “outperform” rating and a $60.00 price target on the stock. Zacks Investment Research lowered Yirendai from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, ValuEngine downgraded Yirendai from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Yirendai currently has a consensus rating of “Buy” and an average target price of $43.00.

Yirendai (YRD) traded down $0.42 during trading on Wednesday, hitting $40.65. The stock had a trading volume of 717,300 shares, compared to its average volume of 522,296. The company has a market capitalization of $2,440.00 and a price-to-earnings ratio of 13.04. Yirendai has a twelve month low of $19.85 and a twelve month high of $53.50.

Yirendai (NYSE:YRD) last posted its quarterly earnings data on Tuesday, November 14th. The technology company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). Yirendai had a return on equity of 80.19% and a net margin of 27.09%. The business had revenue of $227.50 million during the quarter, compared to the consensus estimate of $201.27 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was up 73.0% on a year-over-year basis. equities analysts expect that Yirendai will post 3.15 EPS for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in YRD. Sylebra HK Co Ltd boosted its holdings in shares of Yirendai by 60.6% in the 3rd quarter. Sylebra HK Co Ltd now owns 1,377,270 shares of the technology company’s stock worth $57,763,000 after acquiring an additional 519,576 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Yirendai in the 1st quarter worth approximately $6,131,000. Renaissance Technologies LLC boosted its holdings in shares of Yirendai by 224.3% in the 1st quarter. Renaissance Technologies LLC now owns 170,600 shares of the technology company’s stock worth $4,280,000 after acquiring an additional 118,000 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Yirendai in the 3rd quarter worth approximately $3,845,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Yirendai by 115.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 72,999 shares of the technology company’s stock worth $1,832,000 after acquiring an additional 39,108 shares in the last quarter. 6.62% of the stock is currently owned by institutional investors and hedge funds.

About Yirendai

Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co, Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co, Ltd.

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