Brokerages Set StoneCo Ltd. (NASDAQ:STNE) Price Target at $18.89

StoneCo Ltd. (NASDAQ:STNE) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.89.

STNE has been the topic of several recent analyst reports. Barclays decreased their target price on StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Evercore ISI decreased their target price on StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. The Goldman Sachs Group decreased their target price on StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. JPMorgan Chase & Co. raised StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Thursday, June 6th. Finally, UBS Group raised StoneCo from a “neutral” rating to a “buy” rating and decreased their target price for the company from $21.00 to $17.00 in a research note on Monday, July 8th.

Hedge Funds Weigh In On StoneCo

A number of institutional investors and hedge funds have recently modified their holdings of STNE. USA Financial Formulas purchased a new position in shares of StoneCo in the 4th quarter worth approximately $26,000. Central Bank & Trust Co. purchased a new position in StoneCo during the 2nd quarter valued at $40,000. Lazard Asset Management LLC purchased a new position in StoneCo during the 1st quarter valued at $41,000. Headlands Technologies LLC purchased a new position in StoneCo during the 4th quarter valued at $56,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in StoneCo by 152.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock valued at $58,000 after acquiring an additional 2,110 shares during the period. Hedge funds and other institutional investors own 73.19% of the company’s stock.

StoneCo Stock Up 2.7 %

STNE stock opened at $14.44 on Friday. StoneCo has a twelve month low of $9.34 and a twelve month high of $19.46. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.25. The stock has a market cap of $4.46 billion, a P/E ratio of 13.01, a PEG ratio of 0.34 and a beta of 2.32. The business’s 50-day moving average price is $12.74 and its 200-day moving average price is $14.96.

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.