StoneCo (NASDAQ:STNE) Price Target Lowered to $16.50 at JPMorgan Chase & Co.

StoneCo (NASDAQ:STNE) had its price objective lowered by analysts at JPMorgan Chase & Co. from $20.00 to $16.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 42.18% from the stock’s previous close.

Several other research firms have also recently issued reports on STNE. The Goldman Sachs Group lowered their price objective on StoneCo from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Weiss Ratings raised StoneCo from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, March 5th. Citigroup cut StoneCo from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $11.00 in a research note on Friday, May 15th. Zacks Research raised StoneCo from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Santander cut StoneCo from an “outperform” rating to a “neutral” rating in a research report on Thursday, January 29th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.58.

StoneCo Stock Up 2.8%

NASDAQ:STNE traded up $0.32 on Wednesday, reaching $11.61. 924,484 shares of the stock traded hands, compared to its average volume of 5,690,063. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 4.64, a PEG ratio of 0.23 and a beta of 1.73. StoneCo has a 12 month low of $9.45 and a 12 month high of $19.95. The company’s fifty day simple moving average is $12.84 and its 200 day simple moving average is $14.67.

StoneCo (NASDAQ:STNE) last issued its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. StoneCo had a net margin of 23.82% and a return on equity of 21.05%. The firm had revenue of $141.16 million for the quarter, compared to the consensus estimate of $675.11 million. Equities analysts predict that StoneCo will post 1.99 EPS for the current fiscal year.

Institutional Trading of StoneCo

A number of hedge funds have recently bought and sold shares of STNE. Blue Trust Inc. lifted its holdings in StoneCo by 11,473.3% in the fourth quarter. Blue Trust Inc. now owns 1,736 shares of the company’s stock valued at $26,000 after acquiring an additional 1,721 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of StoneCo during the 4th quarter valued at about $28,000. Rockefeller Capital Management L.P. lifted its stake in shares of StoneCo by 74.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,199 shares of the company’s stock worth $33,000 after purchasing an additional 936 shares during the period. Ensign Peak Advisors Inc purchased a new position in shares of StoneCo in the fourth quarter worth approximately $33,000. Finally, Torren Management LLC bought a new stake in StoneCo during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 73.19% of the company’s stock.

StoneCo Company Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.