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 offers digital retail banking, small and medium enterprises (SME) financing and services, retail and SME banking risk-management, auto insurance operations and services, asset management, asset-liability management, artificial intelligence customer service, core systems, and insurance sales management solutions. The company also operates Regtech, an end-to-end regulatory solution to help regulatory authorities automate and digitalize their operations; Gamma O, an open API platform-as-a-service for reusable financial technology components and integrations; and Blockchain network-as-a-service. In addition, it provides technology infrastructure, such as data management and cloud services. The company serves customers in the financial services industry, including banking, insurance, and asset management. OneConnect Financial Technology Co., Ltd. was founded in 2015 and is headquartered in Shenzhen, the People's Republic of China. OneConnect Financial Technology Co., Ltd. has a strategic agreement with the Hainan Local Financial Supervision Administration to develop smart financial and smart supervision services in the island province of Hainan, as well as the financial sector in Hainan free trade port. OneConnect Financial Technology Co., Ltd. operates as a subsidiary of Ping An Insurance (Group) Company of China, Ltd.
IPO Year: 2019
Exchange: NYSE
Website: ocft.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/18/2022 | Hold | HSBC Securities | |
| 4/11/2022 | $2.20 | Neutral | Goldman |
| 2/24/2022 | $1.50 | Buy → Hold | HSBC Securities |
| 8/5/2021 | $24.00 → $10.00 | Overweight | Keybanc |
| 8/4/2021 | $19.00 → $7.50 | Overweight → Equal-Weight | Morgan Stanley |
HSBC Securities resumed coverage of OneConnect Financial with a rating of Hold
Goldman resumed coverage of OneConnect Financial with a rating of Neutral and set a new price target of $2.20
HSBC Securities downgraded OneConnect Financial from Buy to Hold and set a new price target of $1.50
Keybanc reiterated coverage of OneConnect Financial Tech with a rating of Overweight and set a new price target of $10.00 from $24.00 previously
Morgan Stanley downgraded OneConnect Financial Tech from Overweight to Equal-Weight and set a new price target of $7.50 from $19.00 previously
Keybanc reiterated coverage of OneConnect Financial Tech with a rating of Overweight and set a new price target of $24.00 from $28.00 previously
HSBC reiterated coverage of OneConnect Financial Technology with a rating of Buy and set a new price target of $26.00 from $27.00 previously