StoneCo (NASDAQ:STNE – Get Free Report) had its target price decreased by BTIG Research from $22.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 54.64% from the stock’s current price.
A number of other analysts also recently weighed in on STNE. The Goldman Sachs Group cut their price target on shares of StoneCo from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. JPMorgan Chase & Co. decreased their price objective on shares of StoneCo from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. UBS Group cut their target price on shares of StoneCo from $19.50 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Zacks Research raised shares of StoneCo from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings raised shares of StoneCo from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, March 5th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, StoneCo has a consensus rating of “Moderate Buy” and an average price target of $19.60.
Read Our Latest Stock Analysis on StoneCo
StoneCo Trading Up 0.1%
StoneCo (NASDAQ:STNE – Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $141.16 million for the quarter, compared to analysts’ expectations of $675.11 million. StoneCo had a return on equity of 21.55% and a net margin of 15.38%. Research analysts forecast that StoneCo will post 1.99 EPS for the current year.
Institutional Investors Weigh In On StoneCo
Several institutional investors have recently added to or reduced their stakes in the stock. BRC Global BAH Investments Ltd. acquired a new position in shares of StoneCo during the fourth quarter worth about $84,501,000. Pictet Asset Management Holding SA raised its position in StoneCo by 131.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 219,614 shares of the company’s stock valued at $3,248,000 after buying an additional 124,734 shares during the last quarter. Coronation Fund Managers Ltd. raised its position in StoneCo by 71.7% in the 4th quarter. Coronation Fund Managers Ltd. now owns 2,499,733 shares of the company’s stock valued at $36,971,000 after buying an additional 1,043,464 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in StoneCo in the 4th quarter valued at approximately $3,546,000. Finally, Alta Wealth Advisors LLC acquired a new position in StoneCo during the 3rd quarter worth approximately $1,631,000. 73.19% of the stock is owned by institutional investors.
About StoneCo
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.
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