Analysts Set StoneCo Ltd. (NASDAQ:STNE) Price Target at $16.89

StoneCo Ltd. (NASDAQ:STNE) has received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $16.89.

Several equities research analysts have recently commented on the stock. Susquehanna dropped their target price on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research report on Wednesday, November 13th. UBS Group raised their price objective on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Morgan Stanley reaffirmed an “underweight” rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Barclays lowered their target price on StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th.

StoneCo Price Performance

Shares of StoneCo stock opened at $10.70 on Friday. The company has a market cap of $3.31 billion, a PE ratio of 8.38, a P/E/G ratio of 0.36 and a beta of 2.29. The business has a 50 day moving average of $11.02 and a 200 day moving average of $12.41. StoneCo has a 52 week low of $9.06 and a 52 week high of $19.46. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47.

Institutional Investors Weigh In On StoneCo

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its holdings in shares of StoneCo by 204.1% during the second quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock valued at $92,823,000 after buying an additional 5,195,787 shares during the last quarter. Point72 Asset Management L.P. lifted its position in StoneCo by 36.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock valued at $128,617,000 after acquiring an additional 3,035,530 shares in the last quarter. Truxt Investmentos Ltda. purchased a new stake in StoneCo during the 3rd quarter valued at $31,695,000. State Street Corp increased its holdings in shares of StoneCo by 51.0% in the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company’s stock worth $89,765,000 after purchasing an additional 2,692,558 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of StoneCo by 2,445.5% in the second quarter. Hsbc Holdings PLC now owns 2,287,353 shares of the company’s stock worth $27,151,000 after purchasing an additional 2,197,495 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.