OneConnect Financial Technology (OCFT) Stock Price, News & Analysis

Company Overview

OneConnect Financial Technology Co., Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business. It also provides intelligent product development platform for banks, which allows to shorten product development cycle, enhance speed to market, and facilitate product portfolio management; Regtech, an end-to-end regulatory solution for financial regulatory authorities; asset-liability management solution provides analytics to enhance financial institutions asset liquidity performance; and digital insurance solutions for digitalizing the insurance process, marketing, customer management, and claim processing under intelligent property and casualty insurance and life insurance solution. In addition, the company provides Gamma Voice Solution, an AI customer service for support customer service functions; and Gamma FinCloud, which allows entities with expensive-to-replace legacy systems to directly migrate to the cloud to securely maintain their data. Further, it offers information transmission, information technology advisory, E-commerce security certificate administration, technology promotion and computer application, software and technology, insurance survey and loss adjustment, and asset management and consulting services. The company was founded in 2015 and is headquartered in Shenzhen, the People's Republic of China.

Key Stats

• Today's Range: $2.14 to $2.33
• 50-Day Range: $1.00 to $4.56
• 52-Week Range: $0.87 to $4.98
• Volume: 47,082 shs
• Average Volume: 50,489 shs
• Market Capitalization: $90.48 million
• P/E Ratio: 21.09
• Dividend Yield: N/A
• Price Target: $7.00
• Consensus Rating: Buy

OneConnect Financial Technology Stock Analysis - MarketRank™

OneConnect Financial Technology scored higher than 69% of companies evaluated by MarketBeat, and ranked 175th out of 338 stocks in the business services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.5 / 5
• Analyst Rating: Buy

Consensus Rating

OneConnect Financial Technology has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 1 buy rating, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

OneConnect Financial Technology has received no research coverage in the past 90 days.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: N/A

Price to Earnings Ratio vs. the Market

The P/E ratio of OneConnect Financial Technology is 21.09, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 114.98.

Price to Earnings Ratio vs. Sector

The P/E ratio of OneConnect Financial Technology is 21.09, which means that it is trading at a less expensive P/E ratio than the Business Services sector average P/E ratio of about 24.04.

Price to Book Value per Share Ratio

OneConnect Financial Technology has a P/B Ratio of 0.22. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.24% of the float of OneConnect Financial Technology has been sold short.

Short Interest Ratio / Days to Cover

OneConnect Financial Technology has a short interest ratio ("days to cover") of 0.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in OneConnect Financial Technology has recently decreased by 32.46%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

OneConnect Financial Technology does not currently pay a dividend.

Dividend Growth

OneConnect Financial Technology does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

0.24% of the float of OneConnect Financial Technology has been sold short.

Short Interest Ratio / Days to Cover

OneConnect Financial Technology has a short interest ratio ("days to cover") of 0.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in OneConnect Financial Technology has recently decreased by 32.46%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 2.1 / 5
• News Sentiment: 0.70

News Sentiment

OneConnect Financial Technology has a news sentiment score of 0.70. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Business Services companies.

News Coverage This Week

MarketBeat has tracked 5 news articles for OneConnect Financial Technology this week, compared to 0 articles on an average week.

Company Ownership

• Score: 0.0 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, OneConnect Financial Technology insiders have not sold or bought any company stock.

Percentage Held by Institutions

Only 4.05% of the stock of OneConnect Financial Technology is held by institutions.

OCFT Stock Analysis - Frequently Asked Questions

How have OCFT shares performed this year?

OneConnect Financial Technology's stock was trading at $3.23 at the beginning of the year. Since then, OCFT stock has decreased by 28.2% and is now trading at $2.32.
View the best growth stocks for 2024 here.

How were OneConnect Financial Technology's earnings last quarter?

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) released its quarterly earnings data on Thursday, November, 18th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.10. The business had revenue of $164.53 million for the quarter. OneConnect Financial Technology had a net margin of 0.95% and a negative trailing twelve-month return on equity of 6.08%.

When did OneConnect Financial Technology's stock split?

Shares of OneConnect Financial Technology reverse split before market open on Monday, December 12th 2022. The 1-10 reverse split was announced on Monday, December 12th 2022. The number of shares owned by shareholders was adjusted after the market closes on Monday, December 12th 2022. An investor that had 100 shares of stock prior to the reverse split would have 10 shares after the split.

When did OneConnect Financial Technology IPO?

OneConnect Financial Technology (OCFT) raised $468 million in an initial public offering (IPO) on Friday, December 13th 2019. The company issued 36,000,000 shares at $12.00-$14.00 per share. Morgan Stanley, Goldman Sachs (Asia), J.P. Morgan and Ping An of China Securities (Hong Kong) served as the underwriters for the IPO and BofA Securities, HSBC, CLSA and KeyBanc Capital Markets were co-managers.

Who are OneConnect Financial Technology's major shareholders?

Top institutional shareholders of OneConnect Financial Technology include M&G PLC (3.04%) and Jane Street Group LLC (0.05%).

How do I buy shares of OneConnect Financial Technology?

Shares of OCFT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of OneConnect Financial Technology own?

Based on aggregate information from My MarketBeat watchlists, some other companies that OneConnect Financial Technology investors own include NVIDIA (NVDA), Meta Platforms (META), CrowdStrike (CRWD), Li Auto (LI), Broadcom (AVGO), Palantir Technologies (PLTR) and ServiceNow (NOW).

Company Calendar

• Last Earnings: 11/18/2021
• Today: 11/17/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Business Services
• Industry: Computer programming, data processing, & other computer related
• Sub-Industry: Computer Software
• Current Symbol: NYSE:OCFT
• CUSIP: N/A
• CIK: 1780531
• Web: www.ocft.com
• Phone: 852-3757-9718
• Fax: N/A
• Employees: 2,440
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $7.00
• High Stock Price Target: $7.00
• Low Stock Price Target: $7.00
• Potential Upside/Downside: +201.7%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 1 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.11
• Trailing P/E Ratio: 21.09
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-51,250,000.00
• Net Margins: 0.95%
• Pretax Margin: -7.89%
• Return on Equity: -6.08%
• Return on Assets: -2.47%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 1.77
• Quick Ratio: 1.77

Sales & Book Value

• Annual Sales: $518.92 million
• Price / Sales: 0.17
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $10.68 per share
• Price / Book: 0.22

Miscellaneous

• Outstanding Shares: 39,000,000
• Free Float: N/A
• Market Cap: $90.48 million
• Optionable: Optionable
• Beta: 0.67