Shares of StoneCo Ltd. (NASDAQ:STNE – Get Free Report) have been given an average rating of “Hold” by the eleven analysts that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $16.00.
Several research analysts have recently issued reports on the stock. UBS Group upgraded shares of StoneCo from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $18.00 in a report on Thursday, August 3rd. JPMorgan Chase & Co. lifted their target price on StoneCo from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 22nd. Evercore ISI boosted their target price on StoneCo from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, August 17th. Citigroup lifted their price target on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, The Goldman Sachs Group reduced their price objective on StoneCo from $13.70 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th.
StoneCo Stock Up 6.2 %
StoneCo (NASDAQ:STNE – Get Free Report) last posted its quarterly earnings results on Wednesday, August 16th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. StoneCo had a return on equity of 9.09% and a net margin of 9.02%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the firm earned $0.03 earnings per share. StoneCo’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, equities research analysts predict that StoneCo will post 0.79 earnings per share for the current fiscal year.
Institutional Investors Weigh In On StoneCo
A number of hedge funds have recently added to or reduced their stakes in STNE. 1832 Asset Management L.P. purchased a new stake in StoneCo during the fourth quarter worth about $25,000. Hanseatic Management Services Inc. acquired a new stake in shares of StoneCo in the 2nd quarter worth approximately $35,000. Quarry LP purchased a new position in StoneCo in the 2nd quarter valued at approximately $38,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in StoneCo in the 2nd quarter valued at approximately $49,000. Finally, National Bank of Canada FI raised its holdings in StoneCo by 22.3% during the second quarter. National Bank of Canada FI now owns 4,500 shares of the company’s stock worth $57,000 after purchasing an additional 820 shares during the last quarter. Institutional investors and hedge funds own 77.54% of the company’s stock.
StoneCo Ltd. provides financial technology and software 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 sells solutions to brick-and-mortar and digital merchants through sales team.
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