QIWI: Risk Of Price Falling To $5 Per Share [Seeking Alpha]
QIWI plc - American Depositary Shares (QIWI)
Last qiwi plc - american depositary shares earnings: 3/24 07:15 am
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US:NASDAQ Investor Relations:
finance.yahoo.com/quote/qiwi
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Source: Seeking Alpha
Summary In our previous article published in May 2018, we highlighted the major risks that QIWI (NASDAQ: QIWI ) business faced. Since then the share price declined by over 25%. But it hasn't yet reached our target price of $10.67. Today we would like to share our opinion about the underlying trends in QIWI, which resulted in this sharp stock price decline. After reviewing the current market situation with QIWI, we lowered our target price to $5.47 - the downside of 61% from the current price. QIWI’s value proposition is diluted by internet/mobile banking and plastic cards penetration growth Here is one chart that demonstrates where is QIWI compared to its major competitors - banks: QIWI value proposition for clients as the online/mobile payment system is diluted by the rapid penetration of internet/mobile banking and plastic cards in Russia. Source: Russian central bank, QIWI company data While the number of banking accounts with internet access in
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