StoneCo (NASDAQ:STNE – Get Free Report) had its target price reduced by research analysts at JPMorgan Chase & Co. from $20.00 to $16.50 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 42.18% from the company’s previous close.
STNE has been the subject of a number of other research reports. Weiss Ratings raised StoneCo from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, March 5th. The Goldman Sachs Group cut their price objective on StoneCo from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Zacks Research raised StoneCo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. UBS Group decreased their target price on StoneCo from $19.50 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, Citigroup cut shares of StoneCo from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $11.00 in a report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.58.
Get Our Latest Stock Report on STNE
StoneCo Trading Up 2.8%
StoneCo (NASDAQ:STNE – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $141.16 million during the quarter, compared to the consensus estimate of $675.11 million. StoneCo had a net margin of 23.82% and a return on equity of 21.05%. Analysts forecast that StoneCo will post 1.99 EPS for the current fiscal year.
Hedge Funds Weigh In On StoneCo
A number of institutional investors and hedge funds have recently made changes to their positions in STNE. BRC Global BAH Investments Ltd. bought a new stake in shares of StoneCo in the 4th quarter worth approximately $84,501,000. Squadra Investments Gestao DE Recursos LTDA. increased its position in StoneCo by 435.5% during the 1st quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 6,662,253 shares of the company’s stock valued at $94,071,000 after buying an additional 5,418,053 shares in the last quarter. SPX Gestao de Recursos Ltda raised its stake in 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 valued at $77,450,000 after buying an additional 4,783,158 shares during the last quarter. Bank of America Corp DE raised its stake in StoneCo by 151.7% during the first quarter. Bank of America Corp DE now owns 6,032,572 shares of the company’s stock valued at $85,180,000 after buying an additional 3,636,276 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in StoneCo in the third quarter worth $58,017,000. Institutional investors own 73.19% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than StoneCo
- Micron’s $1 Trillion Memory Melt-Up
- Quantum Computing’s Commercial Breakout Has Arrived
- Modine’s $4B AI Coup Freezes Out the Competition
- What Investors Need to Know About TSMC’s Hefty 17% Dividend Increase
Receive News & Ratings for StoneCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StoneCo and related companies with MarketBeat.com's FREE daily email newsletter.
