StoneCo (NASDAQ:STNE) Price Target Increased to $18.00 by Analysts at UBS Group

StoneCo (NASDAQ:STNE) had its price objective hoisted by stock analysts at UBS Group from $17.00 to $18.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 38.25% from the stock’s current price.

Other equities analysts have also issued reports about the company. Evercore ISI lowered their target price on StoneCo from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. The Goldman Sachs Group cut 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. Barclays lowered their price target on shares of StoneCo from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, StoneCo currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

StoneCo Stock Performance

STNE stock opened at $13.02 on Thursday. The stock’s 50 day simple moving average is $13.00 and its 200 day simple moving average is $14.76. StoneCo has a 12-month low of $9.34 and a 12-month high of $19.46. The firm has a market cap of $4.02 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.49 and a beta of 2.32. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.41.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG grew its holdings in shares of StoneCo by 14.5% during the 4th quarter. UBS Group AG now owns 2,001,221 shares of the company’s stock valued at $36,082,000 after acquiring an additional 253,276 shares in the last quarter. Quadrature Capital Ltd bought a new position in StoneCo during the fourth quarter valued at approximately $2,008,000. Norges Bank acquired a new stake in StoneCo in the fourth quarter valued at approximately $58,777,000. Lord Abbett & CO. LLC bought a new stake in StoneCo in the first quarter worth approximately $33,139,000. Finally, Vanguard Group Inc. increased its stake in shares of StoneCo by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 2,636,619 shares of the company’s stock worth $43,794,000 after purchasing an additional 88,256 shares during the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

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.