Shares of StoneCo Ltd (NASDAQ:STNE) have earned an average recommendation of “Buy” from the six analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $35.27.
STNE has been the subject of several recent research reports. Bank of America initiated coverage on StoneCo in a report on Monday, January 14th. They issued a “buy” rating and a $26.00 price target for the company. Zacks Investment Research cut StoneCo from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $47.00 price target (up previously from $35.00) on shares of StoneCo in a report on Thursday.
Shares of StoneCo stock traded down $1.13 during mid-day trading on Thursday, reaching $41.82. 2,692,800 shares of the stock traded hands, compared to its average volume of 3,601,803. StoneCo has a fifty-two week low of $16.14 and a fifty-two week high of $44.21. The stock has a market capitalization of $11.59 billion and a P/E ratio of 126.73.
Several large investors have recently bought and sold shares of STNE. Partner Investment Management L.P. acquired a new stake in shares of StoneCo in the fourth quarter valued at approximately $42,000. Victory Capital Management Inc. acquired a new stake in shares of StoneCo in the fourth quarter valued at approximately $46,000. Intellectus Partners LLC acquired a new stake in shares of StoneCo in the fourth quarter valued at approximately $104,000. Zimmer Partners LP acquired a new stake in shares of StoneCo in the fourth quarter valued at approximately $184,000. Finally, PNC Financial Services Group Inc. acquired a new stake in StoneCo during the fourth quarter worth $293,000. 32.94% of the stock is owned by hedge funds and other institutional investors.
StoneCo Ltd. provides financial technology solutions that empower 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 technology and solutions to digital merchants through sales and technical personnel and software vendors.
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