StoneCo (NASDAQ:STNE - Get Rating) had its target price hoisted by equities researchers at Wells Fargo & Company from $11.00 to $12.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 21.58% from the company's previous close.
Separately, The Goldman Sachs Group downgraded shares of StoneCo from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $9.80 to $7.80 in a research report on Tuesday, September 6th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, StoneCo has a consensus rating of "Hold" and a consensus price target of $16.84.
StoneCo Stock Down 5.7 %
NASDAQ STNE opened at $9.87 on Friday. The company has a market capitalization of $3.08 billion, a P/E ratio of -5.64 and a beta of 2.15. StoneCo has a 12 month low of $6.81 and a 12 month high of $21.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.24 and a quick ratio of 1.24. The company's 50 day simple moving average is $10.31 and its 200 day simple moving average is $9.69.
StoneCo (NASDAQ:STNE - Get Rating) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.20 billion. StoneCo had a negative return on equity of 7.68% and a negative net margin of 36.63%. The company's quarterly revenue was up 275.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. Equities research analysts expect that StoneCo will post 0.18 earnings per share for the current fiscal year.
Institutional Trading of StoneCo
Several institutional investors and hedge funds have recently added to or reduced their stakes in STNE. National Bank of Canada FI lifted its holdings in StoneCo by 75.8% during the 1st quarter. National Bank of Canada FI now owns 3,480 shares of the company's stock worth $41,000 after purchasing an additional 1,500 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of StoneCo by 33.8% during the second quarter. Asset Management One Co. Ltd. now owns 6,665 shares of the company's stock worth $51,000 after purchasing an additional 1,684 shares during the last quarter. Tortoise Index Solutions LLC increased its position in StoneCo by 13.2% in the 2nd quarter. Tortoise Index Solutions LLC now owns 9,019 shares of the company's stock valued at $69,000 after acquiring an additional 1,053 shares during the period. Captrust Financial Advisors raised its position in StoneCo by 281.5% during the 1st quarter. Captrust Financial Advisors now owns 6,268 shares of the company's stock worth $73,000 after purchasing an additional 4,625 shares during the last quarter. Finally, Canton Hathaway LLC bought a new position in StoneCo during the 2nd quarter worth approximately $83,000. 59.69% of the stock is owned by institutional investors.
StoneCo Ltd. provides financial technology 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 technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.
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