StoneCo (NASDAQ:STNE) Stock Rating Reaffirmed by Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of StoneCo (NASDAQ:STNE) in a research note published on Thursday, March 21st, Briefing.com Automated Import reports. Morgan Stanley currently has a $47.00 target price on the stock, up from their previous target price of $35.00.

Several other equities analysts have also weighed in on STNE. Zacks Investment Research lowered StoneCo from a hold rating to a sell rating in a research note on Tuesday, January 22nd. Bank of America lifted their price objective on StoneCo from $26.00 to $42.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $35.27.

StoneCo stock traded up $0.70 during midday trading on Thursday, reaching $35.95. 1,977,429 shares of the company were exchanged, compared to its average volume of 2,617,008. The stock has a market cap of $9.77 billion and a PE ratio of 108.94. StoneCo has a 1 year low of $16.14 and a 1 year high of $45.62.

StoneCo (NASDAQ:STNE) last posted its quarterly earnings data on Monday, March 18th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $139.04 million for the quarter, compared to analysts’ expectations of $116.87 million. Equities research analysts predict that StoneCo will post 0.83 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in STNE. Partner Investment Management L.P. acquired a new position in shares of StoneCo in the 4th quarter valued at approximately $42,000. Victory Capital Management Inc. bought a new stake in shares of StoneCo in the 4th quarter valued at approximately $46,000. Intellectus Partners LLC bought a new stake in shares of StoneCo in the 4th quarter valued at approximately $104,000. Zimmer Partners LP bought a new stake in shares of StoneCo in the 4th quarter valued at approximately $184,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of StoneCo in the 4th quarter valued at approximately $293,000. 33.26% of the stock is currently owned by hedge funds and other institutional investors.

StoneCo Company Profile

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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Analyst Recommendations for StoneCo (NASDAQ:STNE)

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