Barclays Cuts StoneCo (NASDAQ:STNE) Price Target to $10.00

StoneCo (NASDAQ:STNE) had its target price decreased by Barclays from $12.00 to $10.00 in a research note published on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research firms also recently issued reports on STNE. Susquehanna decreased their price target on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research note on Wednesday, November 13th. Citigroup reaffirmed a “neutral” rating and issued a $9.00 price target (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. JPMorgan Chase & Co. reduced their price objective on StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Finally, Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.50.

StoneCo Price Performance

Shares of StoneCo stock opened at $9.17 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo has a 12 month low of $7.72 and a 12 month high of $19.46. The stock has a 50 day moving average of $8.75 and a 200 day moving average of $10.86. The firm has a market cap of $2.83 billion, a PE ratio of 7.16, a PEG ratio of 0.36 and a beta of 2.23.

Institutional Investors Weigh In On StoneCo

A number of institutional investors and hedge funds have recently modified their holdings of STNE. Newbridge Financial Services Group Inc. increased its stake in StoneCo by 166.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,400 shares of the company’s stock worth $51,000 after purchasing an additional 4,000 shares during the period. KBC Group NV bought a new position in shares of StoneCo in the fourth quarter worth about $73,000. Tempus Wealth Planning LLC purchased a new position in StoneCo in the 4th quarter worth about $124,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in StoneCo during the 3rd quarter valued at about $125,000. Finally, Covestor Ltd boosted its position in StoneCo by 40.9% in the 3rd quarter. Covestor Ltd now owns 13,350 shares of the company’s stock valued at $150,000 after buying an additional 3,878 shares during the period. 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.