Brokerages Set StoneCo Ltd (STNE) Target Price at $33.92

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.

StoneCo (NASDAQ:STNE) last announced its earnings results on Monday, March 18th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $139.04 million for the quarter, compared to analyst estimates of $116.87 million. As a group, equities analysts forecast that StoneCo will post 0.84 EPS for the current fiscal year.

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.

About StoneCo

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.

Read More: Return on Equity (ROE)

Analyst Recommendations for StoneCo (NASDAQ:STNE)

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