StoneCo (NASDAQ:STNE) Trading Up 7.9% – What’s Next?

StoneCo Ltd. (NASDAQ:STNE) was up 7.9% during mid-day trading on Monday . The stock traded as high as $14.84 and last traded at $14.85. Approximately 2,213,559 shares traded hands during trading, a decline of 62% from the average daily volume of 5,792,993 shares. The stock had previously closed at $13.76.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays increased their price target on shares of StoneCo from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Citigroup raised shares of StoneCo from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.00 to $15.00 in a research report on Tuesday, April 22nd. Morgan Stanley boosted their price target on StoneCo from $5.70 to $6.00 and gave the company an “underweight” rating in a report on Friday, March 21st. Santander upgraded shares of StoneCo from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company upgraded shares of StoneCo from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.63.

StoneCo Stock Up 9.7%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. The business has a 50 day simple moving average of $13.16 and a 200-day simple moving average of $10.64. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 0.41 and a beta of 1.92.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. StoneCo had a net margin of 16.02% and a return on equity of 13.92%. The firm had revenue of $625.86 million during the quarter, compared to analyst estimates of $3.68 billion. On average, equities analysts expect that StoneCo Ltd. will post 1.16 EPS for the current year.

Institutional Trading of StoneCo

A number of hedge funds and other institutional investors have recently made changes to their positions in STNE. Strs Ohio purchased a new stake in StoneCo in the 1st quarter valued at about $70,000. Intech Investment Management LLC boosted its position in shares of StoneCo by 10.5% during the first quarter. Intech Investment Management LLC now owns 180,665 shares of the company’s stock worth $1,893,000 after buying an additional 17,192 shares during the period. Atmos Capital Gestao DE Recursos LTDA. lifted its stake in StoneCo by 3.1% during the 1st quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 11,982,873 shares of the company’s stock worth $125,581,000 after acquiring an additional 359,037 shares in the last quarter. PenderFund Capital Management Ltd. acquired a new position in StoneCo in the 1st quarter valued at about $1,572,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in StoneCo by 65.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,742 shares of the company’s stock worth $15,887,000 after purchasing an additional 599,313 shares during the period. Institutional investors and hedge funds own 73.19% of the company’s stock.

StoneCo Company Profile

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.