JPMorgan Chase & Co. Issues Pessimistic Forecast for StoneCo (NASDAQ:STNE) Stock Price

StoneCo (NASDAQ:STNE) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $21.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 30.80% from the company’s current price.

Other analysts have also recently issued reports about the stock. BTIG Research reissued a “buy” rating and issued a $22.00 price objective on shares of StoneCo in a research note on Tuesday, March 3rd. UBS Group reduced their price objective on shares of StoneCo from $19.50 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Weiss Ratings raised shares of StoneCo from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, March 5th. Santander cut shares of StoneCo from an “outperform” rating to a “neutral” rating in a research note on Thursday, January 29th. Finally, Zacks Research raised shares of StoneCo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, StoneCo currently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

StoneCo Stock Performance

Shares of NASDAQ STNE opened at $15.29 on Wednesday. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 0.32 and a beta of 1.89. StoneCo has a 12-month low of $11.83 and a 12-month high of $19.95. The firm has a 50 day moving average of $15.08 and a 200 day moving average of $15.94. The company has a current ratio of 1.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $675.42 million during the quarter, compared to analysts’ expectations of $704.26 million. StoneCo had a net margin of 15.38% and a return on equity of 21.55%. On average, research analysts anticipate that StoneCo will post 1.16 earnings per share for the current year.

Hedge Funds Weigh In On StoneCo

A number of hedge funds and other institutional investors have recently modified their holdings of STNE. BRC Global BAH Investments Ltd. bought a new position in shares of StoneCo during the fourth quarter worth $84,501,000. SPX Gestao de Recursos Ltda boosted its position in shares of StoneCo by 1,054.8% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 5,236,620 shares of the company’s stock worth $77,450,000 after acquiring an additional 4,783,158 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of StoneCo during the third quarter worth $58,017,000. Norges Bank bought a new position in shares of StoneCo during the fourth quarter worth $45,247,000. Finally, Ninety One UK Ltd boosted its position in shares of StoneCo by 218.4% during the third quarter. Ninety One UK Ltd now owns 4,234,251 shares of the company’s stock worth $80,070,000 after acquiring an additional 2,904,432 shares during the last quarter. Institutional investors own 73.19% of the company’s stock.

StoneCo Company Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.