The Goldman Sachs Group Issues Pessimistic Forecast for StoneCo (NASDAQ:STNE) Stock Price

StoneCo (NASDAQ:STNE) had its price target lowered by The Goldman Sachs Group from $16.00 to $14.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also commented on STNE. Susquehanna lowered their price objective on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a report on Wednesday, November 13th. Citigroup reiterated a “neutral” rating and set a $9.00 price target (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. JPMorgan Chase & Co. reduced their price objective on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Finally, Barclays lowered their target price on shares of StoneCo from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.38.

StoneCo Trading Down 1.3 %

Shares of NASDAQ:STNE opened at $9.22 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.85 billion, a PE ratio of 7.20, a P/E/G ratio of 0.37 and a beta of 2.25. StoneCo has a 1 year low of $7.72 and a 1 year high of $19.46. The firm has a fifty day moving average price of $8.63 and a 200 day moving average price of $10.75.

Institutional Trading of StoneCo

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. lifted its stake in shares of StoneCo by 36.2% in the third quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock valued at $128,617,000 after buying an additional 3,035,530 shares during the period. Truxt Investmentos Ltda. bought a new stake in shares of StoneCo in the 3rd quarter worth approximately $31,695,000. State Street Corp grew its holdings in shares of StoneCo by 51.0% during the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company’s stock worth $89,765,000 after purchasing an additional 2,692,558 shares in the last quarter. Geode Capital Management LLC increased its position in shares of StoneCo by 36.0% during the third quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company’s stock valued at $58,302,000 after purchasing an additional 1,374,788 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of StoneCo by 327.4% in the third quarter. JPMorgan Chase & Co. now owns 1,580,679 shares of the company’s stock valued at $17,798,000 after purchasing an additional 1,210,817 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

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.