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A statement released earlier today by Macquarie about Yirendai (NYSE:YRD) bumps the target price to $60.00

Reporting a potential upside of 0.38%, Macquarie upped the price target of Yirendai (NYSE:YRD) to $60.00

Previously on Wednesday May 24, 2017, Zacks Investment Research reported about Yirendai (NYSE:YRD) raised the target price from $0.00 to $27.00. At the time, this indicated a possible upside of 0.14%.

Yesterday Yirendai (NYSE:YRD) traded -12.43% lower at $43.39. The company’s 50-day moving average is $24.73 and its 200-day moving average is $25.11. The last stock close price is up 2.15% from the 200-day moving average, compared to the S&P 500 which has increased 0.02% over the same time. 2,304,335 shares of the stock were exchanged, up from an average trading volume of 541,823

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Yirendai (NYSE:YRD)

Yirendai has a 52 week low of $7.70 and a 52 week high of $42.34 with a P/E ratio of 12.12 The company’s market cap is currently $0.

In addition to Macquarie reporting its target price, a total of 3 firms have reported on the stock. The consensus target price is $11.32 with 0 firms rating the stock a strong buy, 3 firms rating the stock a buy, 0 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Yirendai (NYSE:YRD)

Yirendai Ltd. is engaged in online consumer finance marketplace business in China. The Company conducts its business in China, through Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd. (Heng Ye) and its consolidated variable interest entity, Heng Cheng Technology Development (Beijing) Co., Ltd. (Heng Cheng). Heng Cheng operates its Website, www.yirendai.com, and has an Internet content provider (ICP) license as an Internet information provider. Its online marketplace facilitates standard loan products, express loan products and vertical loan products to borrowers. Uses for these loan products include home remodels, durable good purchases, travel and continuing education. Its online marketplace provides investors with various investing tools, such as automated investing tool and self-directed investing tool. It maintains a secondary loan market on its marketplace where investors can transfer the loans they hold prior to maturity at the fair value of the remaining loans.

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