JPMorgan Chase & Co. Forecasts Strong Price Appreciation for StoneCo (NASDAQ:STNE) Stock

StoneCo (NASDAQ:STNE - Get Free Report) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $15.50 to $18.50 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 35.33% from the stock's current price.

Several other research analysts have also commented on STNE. Wall Street Zen lowered shares of StoneCo from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Santander raised shares of StoneCo from a "neutral" rating to an "outperform" rating in a research note on Wednesday, May 21st. Wells Fargo & Company raised shares of StoneCo from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, March 19th. Barclays boosted their target price on shares of StoneCo from $13.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, Morgan Stanley boosted their target price on shares of StoneCo from $5.70 to $6.00 and gave the company an "underweight" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, StoneCo has an average rating of "Moderate Buy" and a consensus price target of $15.07.

StoneCo Price Performance

Shares of STNE stock traded down $1.24 on Wednesday, hitting $13.67. 7,395,635 shares of the stock traded hands, compared to its average volume of 5,823,051. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -17.53, a PEG ratio of 0.39 and a beta of 1.94. StoneCo has a 52 week low of $7.72 and a 52 week high of $16.68. The firm has a 50 day simple moving average of $14.51 and a two-hundred day simple moving average of $11.77. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.39 and a quick ratio of 1.39.

StoneCo (NASDAQ:STNE - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $625.86 million for the quarter, compared to analysts' expectations of $3.68 billion. StoneCo had a negative net margin of 8.90% and a positive return on equity of 16.65%. As a group, equities research analysts predict that StoneCo will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On StoneCo

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in StoneCo by 1,486.3% in the first quarter. GAMMA Investing LLC now owns 2,903 shares of the company's stock valued at $30,000 after buying an additional 2,720 shares during the last quarter. CWM LLC boosted its position in StoneCo by 327.4% in the 1st quarter. CWM LLC now owns 3,154 shares of the company's stock worth $33,000 after purchasing an additional 2,416 shares in the last quarter. Jones Financial Companies Lllp boosted its position in StoneCo by 254.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company's stock worth $34,000 after purchasing an additional 3,056 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of StoneCo by 627.0% during the 4th quarter. Sterling Capital Management LLC now owns 4,551 shares of the company's stock valued at $36,000 after buying an additional 3,925 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of StoneCo by 334.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,598 shares of the company's stock valued at $42,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 73.19% of the company's stock.

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.