Long Position on QIWI @ $20.75 on 7/30/2019 (Momentum)

Qiwi plc (QIWI) operates electronic online payment systems primarily in the Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally.

It operates through Payment Services, Consumer Financial Services, Small and Medium Enterprises, and Rocketbank segments.

The company offers payment services across online, mobile, and physical channels through a network of approximately 110,000 kiosks and 34,000 terminals that run its proprietary software.

It also provides Qiwi Wallet, which is an online and mobile payment processing, and money transfer system that allows customers to pay for the products and services of merchants, as well as perform peer-to-peer money transfers through a virtual wallet; and Visa-branded prepaid cards.

In addition, the company offers payment-by installments card systems under the SOVEST brand name; and value added services. Further, it provides digital banking services to retail customers under the Rocketbank name; and to small and medium businesses under the Tochka name.

Shares have formed a bullish "cup and handle" ahead of its earnings report on August 15th. On May 16th, the Company reported 1st Quarter March 2019 earnings of $0.41 per share on revenue of $138.0 million. The consensus earnings estimate was $0.27 per share on revenue of $64.6 million. Revenue grew 23.5% on a year-over-year basis.

The company said it expects 2019 revenue of approximately $330.1 million to $348.3 million. The company's previous guidance was for revenue of approximately $302.9 million to $327.1 million and the current consensus estimate is revenue of $311.7 million for the year ending December 31, 2019.

Entry Point: $20.75

Stop Loss: $19.70

Trading Range: $11.61 - $22.41

Target Price: $22.85

Updates

8/19/2019 2:54:49 PM

QIWI closed at $23.30

Position closed on 8/19/2019 at price of $23.30 with a 12.29% gain in 20 days.

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