Shares of StoneCo Ltd. (NASDAQ:STNE – Get Rating) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.10.
Several research firms recently weighed in on STNE. Grupo Santander raised StoneCo from an “underperform” rating to a “neutral” rating in a research note on Wednesday, December 14th. Wells Fargo & Company raised their price objective on StoneCo from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, November 18th. The Goldman Sachs Group upgraded StoneCo from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $7.50 to $11.00 in a research report on Thursday, December 1st. Evercore ISI upgraded StoneCo from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $16.00 in a report on Monday, November 28th. Finally, Morgan Stanley downgraded StoneCo from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $17.00 to $15.00 in a report on Tuesday, December 6th.
Hedge Funds Weigh In On StoneCo
Institutional investors and hedge funds have recently bought and sold shares of the stock. Walker Asset Management LLC bought a new stake in StoneCo during the second quarter worth approximately $2,690,000. Quantbot Technologies LP purchased a new stake in StoneCo during the second quarter worth $291,000. Echo Street Capital Management LLC acquired a new position in shares of StoneCo during the second quarter worth $97,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of StoneCo by 951.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,788,600 shares of the company’s stock worth $44,327,000 after purchasing an additional 3,428,320 shares in the last quarter. Finally, Indus Capital Partners LLC acquired a new position in shares of StoneCo during the second quarter worth $1,649,000. 59.80% of the stock is currently owned by hedge funds and other institutional investors.
StoneCo Stock Up 3.9 %
Shares of NASDAQ:STNE opened at $9.60 on Friday. The company’s fifty day moving average is $10.44 and its 200-day moving average is $9.85. The company has a market capitalization of $3.00 billion, a PE ratio of -11.29 and a beta of 2.15. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.27 and a current ratio of 1.27. StoneCo has a 52 week low of $6.81 and a 52 week high of $19.66.
StoneCo (NASDAQ:STNE – Get Rating) last announced its quarterly earnings data on Thursday, November 17th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. StoneCo had a positive return on equity of 2.48% and a negative net margin of 15.73%. The firm had revenue of $478.88 million during the quarter, compared to analysts’ expectations of $477.52 million. Equities research analysts predict that StoneCo will post 0.3 earnings per share for the current fiscal year.
StoneCo Ltd. provides financial technology solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.
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