XP Inc. (NASDAQ:XP) Stock Has Consensus Price Target of $28.80 According to Analysts

Key Points

• Analysts rate XP “Moderate Buy”: Five of seven brokerages recommend buying the stock, while two assign hold ratings. The average 12-month price target is $28.80.
• XP shares opened at $30.41, up 3.6%, with a market capitalization of $16.34 billion and a 52-week range of $14.80 to $32.73.
• The company exceeded quarterly expectations, reporting $0.53 in EPS and $943.55 million in revenue, while revenue increased 8.3% year over year. Hedge funds and other institutional investors own 59.15% of the stock.

Shares of XP Inc. (NASDAQ:XP - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $28.80.

XP has been the topic of several research analyst reports. Weiss Ratings upgraded XP from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, September 2nd. Citigroup raised their price objective on shares of XP from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, September 29th. Itau BBA Securities upgraded XP from a "market perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a research report on Monday, August 31st. UBS Group upped their price objective on shares of XP from $25.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on XP from $26.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, October 6th.

XP Trading Up 3.6%

Shares of XP stock opened at $30.41 on Friday. The company has a market cap of $16.34 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.70 and a beta of 1.01. The firm has a 50-day simple moving average of $22.54 and a two-hundred day simple moving average of $19.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.80 and a current ratio of 4.80. XP has a fifty-two week low of $14.80 and a fifty-two week high of $32.73.

XP (NASDAQ:XP - Get Free Report) last issued its quarterly earnings data on Monday, August 17th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. XP had a return on equity of 22.19% and a net margin of 27.20%. The company had revenue of $943.55 million for the quarter, compared to analyst estimates of $935.15 million. During the same period last year, the company earned $2.46 earnings per share. XP's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that XP will post 2.08 earnings per share for the current fiscal year.

Insider Transactions at XP

In other news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $19.58, for a total transaction of $2,413,372.06. Following the sale, the director owned 1,500,000 shares of the company's stock, valued at approximately $29,370,000. This represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Reyes Financial Architecture Inc. purchased a new position in shares of XP in the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of XP by 46.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,471 shares of the company's stock valued at $47,000 after acquiring an additional 781 shares during the last quarter. Parallel Advisors LLC increased its stake in XP by 117.3% in the first quarter. Parallel Advisors LLC now owns 3,288 shares of the company's stock valued at $63,000 after purchasing an additional 1,775 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of XP in the 2nd quarter valued at $91,000. Finally, Strategic Investment Advisors MI acquired a new stake in XP during the 1st quarter worth $126,000. 59.15% of the stock is currently owned by hedge funds and other institutional investors.

About XP

XP Inc is a Brazilian financial services company that operates a technology-driven investment and financial products platform. Through its digital channels and network of advisors, the company offers access to products including stocks, bonds, investment funds, exchange-traded funds, insurance and retirement products. It serves individual investors, businesses, institutional clients and independent financial advisors.

The company's principal brands and businesses include XP, Rico and Clear, which provide brokerage and investment services to different customer segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.