StoneCo (NASDAQ:STNE) Price Target Cut to $22.00

StoneCo (NASDAQ:STNE) had its price objective cut by investment analysts at Susquehanna from $23.00 to $22.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 43.51% from the company’s current price.

Several other research firms also recently issued reports on STNE. Citigroup upped their price objective on StoneCo from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. UBS Group downgraded shares of StoneCo from a “buy” rating to a “neutral” rating and increased their target price for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Barclays increased their target price on shares of StoneCo from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group raised shares of StoneCo from a “neutral” rating to a “buy” rating and increased their target price for the company from $12.00 to $21.00 in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

StoneCo Price Performance

STNE traded up $0.07 on Friday, hitting $15.33. 463,897 shares of the stock were exchanged, compared to its average volume of 5,144,854. StoneCo has a 12 month low of $9.34 and a 12 month high of $19.46. The business has a 50-day moving average of $16.70 and a two-hundred day moving average of $15.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 15.16 and a beta of 2.34.

StoneCo (NASDAQ:STNE) last issued its earnings results on Monday, March 18th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The firm had revenue of $655.87 million during the quarter, compared to the consensus estimate of $468.47 million. StoneCo had a return on equity of 11.23% and a net margin of 13.35%. Sell-side analysts forecast that StoneCo will post 1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On StoneCo

Several large investors have recently made changes to their positions in STNE. Corient Private Wealth LLC increased its holdings in StoneCo by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 33,227 shares of the company’s stock worth $599,000 after acquiring an additional 692 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in StoneCo by 6.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 12,367 shares of the company’s stock worth $117,000 after acquiring an additional 800 shares during the last quarter. Raymond James & Associates increased its holdings in StoneCo by 9.9% in the 4th quarter. Raymond James & Associates now owns 11,383 shares of the company’s stock worth $107,000 after acquiring an additional 1,030 shares during the last quarter. Diversified Trust Co increased its holdings in StoneCo by 3.3% in the 4th quarter. Diversified Trust Co now owns 35,547 shares of the company’s stock worth $641,000 after acquiring an additional 1,151 shares during the last quarter. Finally, TrinityPoint Wealth LLC boosted its stake in StoneCo by 11.1% in the 4th quarter. TrinityPoint Wealth LLC now owns 11,696 shares of the company’s stock worth $211,000 after purchasing an additional 1,167 shares during the period. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Company Profile

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.