StoneCo Ltd. (NASDAQ:STNE – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $9.70, but opened at $9.98. StoneCo shares last traded at $9.6910, with a volume of 1,730,230 shares traded.
Analysts Set New Price Targets
STNE has been the topic of several recent research reports. UBS Group decreased their price objective on shares of StoneCo from $19.50 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Weiss Ratings raised StoneCo from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, March 5th. Santander lowered StoneCo from an “outperform” rating to a “neutral” rating in a research report on Thursday, January 29th. BTIG Research dropped their price objective on shares of StoneCo from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group dropped their price target on shares of StoneCo from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.17.
Check Out Our Latest Stock Analysis on STNE
StoneCo Trading Up 0.1%
StoneCo (NASDAQ:STNE – Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. StoneCo had a net margin of 15.38% and a return on equity of 21.55%. The business had revenue of $141.16 million for the quarter, compared to the consensus estimate of $675.11 million. As a group, sell-side analysts predict that StoneCo Ltd. will post 1.99 EPS for the current year.
StoneCo Dividend Announcement
The business also recently announced a special dividend, which was paid on Monday, May 4th. Investors of record on Friday, April 24th were issued a $2.53 dividend. The ex-dividend date was Friday, April 24th.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of StoneCo during the first quarter valued at $1,836,000. Renaissance Technologies LLC purchased a new position in StoneCo during the first quarter valued at approximately $342,000. Inceptionr LLC grew its position in StoneCo by 46.1% during the first quarter. Inceptionr LLC now owns 18,427 shares of the company’s stock valued at $260,000 after purchasing an additional 5,815 shares in the last quarter. State of Wyoming grew its position in StoneCo by 150.8% during the first quarter. State of Wyoming now owns 26,217 shares of the company’s stock valued at $370,000 after purchasing an additional 15,763 shares in the last quarter. Finally, First Trust Advisors LP grew its position in StoneCo by 88.6% during the first quarter. First Trust Advisors LP now owns 24,994 shares of the company’s stock valued at $353,000 after purchasing an additional 11,744 shares in the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.
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.
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