StoneCo (NASDAQ:STNE) Price Target Cut to $15.00 by Analysts at JPMorgan Chase & Co.

StoneCo (NASDAQ:STNE) had its target price cut by JPMorgan Chase & Co. from $21.00 to $15.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently weighed in on STNE. Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Morgan Stanley restated an “underweight” rating and issued a $7.00 price target (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. Barclays reduced their price objective on StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. UBS Group raised their target price on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Susquehanna cut their price target on StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, StoneCo has an average rating of “Moderate Buy” and an average target price of $16.13.

StoneCo Price Performance

Shares of NASDAQ:STNE opened at $8.71 on Monday. StoneCo has a fifty-two week low of $8.70 and a fifty-two week high of $19.46. The business has a 50-day simple moving average of $10.45 and a two-hundred day simple moving average of $11.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 0.35 and a beta of 2.21.

Hedge Funds Weigh In On StoneCo

Several large investors have recently added to or reduced their stakes in STNE. Y.D. More Investments Ltd increased its stake in shares of StoneCo by 90.2% in the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after purchasing an additional 2,275 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in StoneCo in the 3rd quarter worth $125,000. Point72 Hong Kong Ltd bought a new stake in StoneCo during the second quarter valued at about $135,000. nVerses Capital LLC purchased a new position in shares of StoneCo in the second quarter valued at about $137,000. Finally, HB Wealth Management LLC bought a new position in shares of StoneCo in the second quarter worth about $153,000. Hedge funds and other institutional investors own 73.19% of the company’s stock.

StoneCo Company Profile

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.