In a report released today, Siraj Ahmed from Citi maintained a Buy rating on $Zip Co Ltd (ZIP.AU)$, with a price target of A$1.90. The company's shares opened today at A$2.32.

According to TipRanks, Ahmed is a 5-star analyst with an average return of 12.4% and a 62.79% success rate. Ahmed covers the Technology sector, focusing on stocks such as Nextdc Limited, Xero Limited, and Megaport Ltd..

Currently, the analyst consensus on Zip Co Ltd. is a Strong Buy with an average price target of A$1.92, which is a -17.24% downside from current levels. In a report released today, UBS also maintained a Buy rating on the stock with a A$1.90 price target.

ZIP market cap is currently A$2.89B and has a P/E ratio of -25.46.

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Zip Co Ltd. (ZIP) Company Description:

Zip is a diversified finance provider, offering consumer financing via a line of credit (via Zip Pay and Zip Money) and instalment-based finance (via QuadPay, Spotii, Twisto, and PayFlex); as well as lending to small to midsize enterprises (via Zip Business). Zip's fortunes are largely tied to the buy now, pay later, or BNPL, industry. Most of its products–Zip Pay, QuadPay (Zip U.S.), and PayFlex–do not charge interest based on outstanding balances. Around 60%-70% of Zip Pay's/Zip Money's revenue is derived from customers, mainly via account fees and interest. Meanwhile, its instalment businesses primarily generate revenue by receiving a margin from merchants, which compensates it for accepting all nonpayment risk and for encouraging consumers to transact more frequently.