Analysis About Russian Payment Processor QIWI That Yielded 57% Profit
On March 20, 2016, I wrote an article on SeekingAlpha about Russian payment processing company QIWI that its stock price had huge upside potential. A year later, QIWI’s stock price went above my initial price target. I wrote a follow-up article to describe that while QIWI still had upside potential, secondary investors should take caution.
There Is Substantial Upside Potential For Qiwi Investors
Since we recommend that investors consider increasing their exposure to QIWI Plc (NASDAQ:QIWI) on March 20, 2016, the company’s stock price has gone up from $14.02 per share and it was trading at $19.88 per share, just shy of our initial target price of $20.06 per share. As soon as the company released its Q1 2017 financial results, the stock turned bullish once again, and it is currently trading at $22 per share, which represents a 56.92% increase in the last 14 months.
We believe QIWI is in a position to leverage the stable economic condition in its key markets to deliver additional growth in the coming quarters. Especially, its money remittance segment has been growing rapidly and it may continue to deliver the growth momentum in the next few quarters.
You can read the full article here.