Qiwi plc Is Trading Up More Than 10% Today, But Why?

Qiwi plc

Qiwi plc (NASDAQ:QIWI) has seen a more than 10% increase in its stock with the opening of the market Friday, which also happens to be the last trading day of 2017. While the Cyprus-based company has not released any new information that would account for the increase today, the stock also increased yesterday, and the move came on solid volume with a great number of shares changing hands than in a normal trading session.

Qiwi plc, What’s Been Going On?

As a publicly traded Russian payment service provider, Qiwi plc has a pretty advanced portfolio thus far, deploying more than 19.0M virtual wallets, and roughly 152,000 terminals and kiosks.

Looking at the company’s track record, I can say that Qiwi plc has been quite busy over the course of the past two years. For starters, back in October of 2016, the company hopped on the blockchain bandwagon by joining R3 – the International Blockchain Consortium.

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Then, in March of this year, Qiwi developed a brand new subsidiary called Qiwi Blockchain Technologies, which is essentially a subsidiary that focuses primarily on the development and consulting of Blockchain.

Last but not least, in November of this year, the company posted its Q3 2017 financial earnings, and for the most part, the results were positive for both the company and its shareholders. Some of the financial highlights include a 22% increase in total adjusted net revenue, a 26% increase in payment adjusted net revenue, and 16% decrease in adjusted net profit.

The Stock

Looking at the past one-month time frame, Qiwi plc stock has traded between the range of $13.80 to $15.40 and experienced an increase on Thursday, December 28.

On Friday, at the time of writing, Qiwi plc is trading at $17.06, which puts the stock up $1.84, or 12.06%.

So, should you add this stock to your 2018 investment portfolio? While I will say that the past two days have proven to be very beneficial for the company, it’s crucial that potential investors keep in mind that the company has witnessed one negative estimate revision over the course of the past two months, and the Zacks Consensus Estimate for the current quarter has revised downward over the past two months.

What does this mean? Well, it could indicate that the company’s stock might run into a couple roadblocks sometime soon, so I would suggest that you keep a close eye on the stock as we move into the new year, just to be sure that the recent surge can actually last.

Featured Image: Depositphotos/© Tzido