StoneCo (NASDAQ:STNE) Price Target Raised to $21.00 at The Goldman Sachs Group

StoneCo (NASDAQ:STNE) had its price target raised by The Goldman Sachs Group from $19.00 to $21.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on STNE. Bank of America upped their price target on shares of StoneCo from $15.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Zacks Research raised shares of StoneCo to a “strong-buy” rating in a research note on Tuesday, August 12th. UBS Group upped their price objective on shares of StoneCo from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StoneCo in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of StoneCo from $15.50 to $18.50 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.44.

StoneCo Price Performance

Shares of NASDAQ STNE opened at $17.00 on Tuesday. StoneCo has a twelve month low of $7.72 and a twelve month high of $19.95. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of -24.29, a PEG ratio of 0.35 and a beta of 1.99. The firm has a 50-day moving average of $17.00 and a two-hundred day moving average of $14.77.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. StoneCo had a negative net margin of 8.37% and a positive return on equity of 18.71%. The company had revenue of $643.82 million during the quarter, compared to the consensus estimate of $3.78 billion. As a group, analysts expect that StoneCo will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On StoneCo

Large investors have recently made changes to their positions in the business. Atmos Capital Gestao DE Recursos LTDA. increased its holdings in shares of StoneCo by 3.1% in the 1st quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 11,982,873 shares of the company’s stock valued at $125,581,000 after purchasing an additional 359,037 shares during the period. Intech Investment Management LLC increased its holdings in shares of StoneCo by 10.5% in the 1st quarter. Intech Investment Management LLC now owns 180,665 shares of the company’s stock valued at $1,893,000 after purchasing an additional 17,192 shares during the period. SG Americas Securities LLC acquired a new position in shares of StoneCo in the 1st quarter valued at about $597,000. Fourth Sail Capital LP acquired a new position in shares of StoneCo in the 1st quarter valued at about $13,640,000. Finally, GAMMA Investing LLC increased its holdings in shares of StoneCo by 1,486.3% in the 1st quarter. GAMMA Investing LLC now owns 2,903 shares of the company’s stock valued at $30,000 after purchasing an additional 2,720 shares during the period. Institutional investors and hedge funds own 73.19% of the company’s stock.

About StoneCo

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.