StoneCo (NASDAQ:STNE) Price Target Cut to $22.00

StoneCo (NASDAQ:STNE) had its price objective lowered by research analysts at Susquehanna from $23.00 to $22.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price target indicates a potential upside of 43.51% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. UBS Group cut StoneCo from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $18.00 to $21.00 in a report on Thursday, February 1st. The Goldman Sachs Group raised StoneCo from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.00 to $21.00 in a report on Monday, January 22nd. Citigroup lifted their price target on StoneCo from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Barclays lifted their price target on StoneCo from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, StoneCo has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

StoneCo Stock Performance

STNE traded up $0.07 on Friday, reaching $15.33. 463,897 shares of the stock were exchanged, compared to its average volume of 5,144,854. The company’s 50-day moving average price is $16.70 and its 200 day moving average price is $15.30. StoneCo has a fifty-two week low of $9.34 and a fifty-two week high of $19.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $4.82 billion, a PE ratio of 15.16 and a beta of 2.34.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings results on Monday, March 18th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. StoneCo had a return on equity of 11.23% and a net margin of 13.35%. The company had revenue of $655.87 million during the quarter, compared to analysts’ expectations of $468.47 million. As a group, sell-side analysts forecast that StoneCo will post 1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On StoneCo

Several hedge funds and other institutional investors have recently made changes to their positions in STNE. 1832 Asset Management L.P. acquired a new stake in shares of StoneCo in the fourth quarter valued at approximately $25,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of StoneCo in the fourth quarter valued at approximately $26,000. USA Financial Formulas acquired a new stake in shares of StoneCo in the fourth quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of StoneCo in the second quarter valued at approximately $38,000. Finally, Headlands Technologies LLC acquired a new stake in StoneCo during the fourth quarter worth $56,000. Institutional investors and hedge funds own 73.19% of the company’s stock.

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.