StoneCo (NASDAQ:STNE) Hits New 1-Year High - Here's Why

StoneCo Ltd. (NASDAQ:STNE - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $15.47 and last traded at $15.37, with a volume of 599191 shares changing hands. The stock had previously closed at $14.96.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price target on shares of StoneCo from $5.70 to $6.00 and gave the stock an "underweight" rating in a research report on Friday, March 21st. Wall Street Zen downgraded shares of StoneCo from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Wells Fargo & Company upgraded StoneCo from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, March 19th. Santander upgraded StoneCo from a "neutral" rating to an "outperform" rating in a research report on Wednesday, May 21st. Finally, Citigroup raised StoneCo from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $9.00 to $15.00 in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, StoneCo presently has an average rating of "Moderate Buy" and a consensus price target of $15.63.

StoneCo Trading Up 3.9%

The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.74. The stock's 50 day moving average is $13.61 and its 200-day moving average is $10.87. The company has a market cap of $4.45 billion, a PE ratio of -19.92, a P/E/G ratio of 0.39 and a beta of 1.93.

StoneCo (NASDAQ:STNE - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. StoneCo had a negative net margin of 8.90% and a positive return on equity of 16.65%. The firm had revenue of $625.86 million for the quarter, compared to analysts' expectations of $3.68 billion. As a group, sell-side analysts anticipate that StoneCo Ltd. will post 1.16 EPS for the current year.

Institutional Investors Weigh In On StoneCo

Several institutional investors have recently modified their holdings of STNE. Strs Ohio bought a new position in shares of StoneCo during the 1st quarter valued at approximately $70,000. Intech Investment Management LLC boosted its stake in StoneCo by 10.5% during the first quarter. Intech Investment Management LLC now owns 180,665 shares of the company's stock worth $1,893,000 after buying an additional 17,192 shares during the period. Atmos Capital Gestao DE Recursos LTDA. increased its position in StoneCo by 3.1% during the first quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 11,982,873 shares of the company's stock valued at $125,581,000 after acquiring an additional 359,037 shares during the last quarter. PenderFund Capital Management Ltd. purchased a new stake in shares of StoneCo in the first quarter valued at $1,572,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of StoneCo by 65.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,742 shares of the company's stock worth $15,887,000 after acquiring an additional 599,313 shares during the last quarter. 73.19% of the stock is owned by 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.

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