StoneCo (NASDAQ:STNE) Shares Gap Down - What's Next?

StoneCo Ltd. (NASDAQ:STNE - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $14.35, but opened at $13.92. StoneCo shares last traded at $13.90, with a volume of 1,642,803 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Santander upgraded shares of StoneCo from a "neutral" rating to an "outperform" rating in a research note on Wednesday, May 21st. Wall Street Zen lowered shares of StoneCo from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Morgan Stanley increased their price objective 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. Wells Fargo & Company upgraded shares of StoneCo from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, March 19th. Finally, Barclays raised their price target on shares of StoneCo from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.63.

StoneCo Price Performance

The firm has a market capitalization of $3.99 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.41 and a beta of 1.92. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. The business's 50 day moving average is $13.09 and its two-hundred day moving average is $10.62.

StoneCo (NASDAQ:STNE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The business had revenue of $625.86 million during the quarter, compared to analyst estimates of $3.68 billion. StoneCo had a net margin of 16.02% and a return on equity of 13.92%. Equities research analysts anticipate that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of StoneCo during the 1st quarter valued at $70,000. Intech Investment Management LLC grew its position in shares of StoneCo by 10.5% during the 1st quarter. Intech Investment Management LLC now owns 180,665 shares of the company's stock valued at $1,893,000 after purchasing an additional 17,192 shares in the last quarter. Atmos Capital Gestao DE Recursos LTDA. grew its position in shares of StoneCo by 3.1% during the 1st quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 11,982,873 shares of the company's stock valued at $125,581,000 after purchasing an additional 359,037 shares in the last quarter. PenderFund Capital Management Ltd. purchased a new position in shares of StoneCo during the 1st quarter valued at $1,572,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of StoneCo by 65.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,742 shares of the company's stock valued at $15,887,000 after purchasing an additional 599,313 shares in the last quarter. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

About StoneCo

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.