Zacks: Arco Platform Ltd (NASDAQ:ARCE) Receives Average Recommendation of “Strong Buy” from Brokerages

Shares of Arco Platform Ltd (NASDAQ:ARCE) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Analysts have set a 12-month consensus price target of $32.33 for the company, according to Zacks. Zacks has also assigned Arco Platform an industry rank of 92 out of 256 based on the ratings given to its competitors.

Several brokerages recently issued reports on ARCE. Credit Suisse Group began coverage on Arco Platform in a research report on Tuesday. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded Arco Platform from a “sell” rating to a “hold” rating in a research report on Monday, June 3rd.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its position in Arco Platform by 14.4% during the 1st quarter. Acadian Asset Management LLC now owns 8,239 shares of the company’s stock worth $267,000 after purchasing an additional 1,038 shares during the period. Daiwa Securities Group Inc. acquired a new position in Arco Platform during the 1st quarter worth approximately $102,000. BNP Paribas Arbitrage SA acquired a new position in Arco Platform during the 1st quarter worth approximately $174,000. BW Gestao de Investimentos Ltda. increased its position in Arco Platform by 13.5% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 85,100 shares of the company’s stock worth $1,882,000 after purchasing an additional 10,100 shares during the period. Finally, Champlain Investment Partners LLC acquired a new position in Arco Platform during the 1st quarter worth approximately $455,000. Institutional investors own 90.78% of the company’s stock.

ARCE stock traded up $0.55 during trading on Friday, hitting $44.20. The company had a trading volume of 2 shares, compared to its average volume of 72,646. The stock has a market cap of $971.16 million and a price-to-earnings ratio of 163.77. Arco Platform has a 1-year low of $17.68 and a 1-year high of $46.50. The company has a 50-day simple moving average of $40.37.

Arco Platform (NASDAQ:ARCE) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.14. The company had revenue of $31.06 million during the quarter. Analysts forecast that Arco Platform will post 0.66 earnings per share for the current fiscal year.

Arco Platform Company Profile

Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform.

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Analyst Recommendations for Arco Platform (NASDAQ:ARCE)

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