StoneCo (NASDAQ:STNE) Shares Gap Up to $13.22

Shares of StoneCo Ltd. (NASDAQ:STNEGet Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $13.22, but opened at $13.57. StoneCo shares last traded at $13.70, with a volume of 786,180 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently commented on STNE. JPMorgan Chase & Co. raised StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Thursday. Barclays reduced their price objective on StoneCo from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, May 20th. Susquehanna reduced their price objective on StoneCo from $23.00 to $22.00 and set a “positive” rating for the company in a research note on Friday, April 19th. Finally, Citigroup raised their price objective on StoneCo from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, StoneCo presently has an average rating of “Moderate Buy” and a consensus target price of $19.60.

Check Out Our Latest Research Report on StoneCo

StoneCo Stock Performance

The company has a 50-day moving average of $15.53 and a 200 day moving average of $16.42. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $4.16 billion, a PE ratio of 11.93, a PEG ratio of 0.35 and a beta of 2.36.

StoneCo (NASDAQ:STNEGet Free Report) last posted its earnings results on Monday, May 13th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. StoneCo had a return on equity of 12.35% and a net margin of 14.08%. The business had revenue of $623.12 million during the quarter, compared to analysts’ expectations of $633.35 million. Equities research analysts predict that StoneCo Ltd. will post 1.45 EPS for the current year.

Hedge Funds Weigh In On StoneCo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STNE. Nucleo Capital LTDA. lifted its stake in StoneCo by 10.0% during the third quarter. Nucleo Capital LTDA. now owns 6,138,276 shares of the company’s stock worth $65,495,000 after purchasing an additional 557,186 shares during the last quarter. Polunin Capital Partners Ltd lifted its stake in StoneCo by 10.5% during the first quarter. Polunin Capital Partners Ltd now owns 3,681,947 shares of the company’s stock worth $61,157,000 after purchasing an additional 350,656 shares during the last quarter. Norges Bank bought a new stake in StoneCo during the fourth quarter worth about $58,777,000. Federated Hermes Inc. lifted its stake in StoneCo by 4.8% during the fourth quarter. Federated Hermes Inc. now owns 2,766,712 shares of the company’s stock worth $49,884,000 after purchasing an additional 125,668 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in StoneCo by 17.5% during the third quarter. Vanguard Group Inc. now owns 2,672,681 shares of the company’s stock worth $28,518,000 after purchasing an additional 397,101 shares during the last quarter. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

About StoneCo

(Get Free Report)

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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