XP Inc. (NASDAQ:XP) Stock Has Consensus Price Target of $28.80

Shares of XP Inc. (NASDAQ:XP) have earned an average rating of “Hold” from the nine research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $26.17.

XP has been the subject of several research analyst reports. Itau BBA Securities upgraded XP from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Monday, August 31st. Morgan Stanley set a $23.00 target price on shares of XP in a report on Thursday. UBS Group upped their target price on XP from $25.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, October 8th. Citigroup downgraded XP from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $15.00 in a report on Tuesday, October 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of XP from $26.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, October 6th.

Insider Buying and Selling

In other news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $19.58, for a total value of $2,413,372.06. Following the transaction, the director owned 1,500,000 shares in the company, valued at $29,370,000. This represents a 7.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of XP

A number of institutional investors have recently added to or reduced their stakes in XP. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in XP during the first quarter worth approximately $3,071,000. Lazard Asset Management LLC grew its stake in XP by 244.9% in the 1st quarter. Lazard Asset Management LLC now owns 206,689 shares of the company’s stock valued at $3,935,000 after buying an additional 146,763 shares during the last quarter. National Pension Service grew its position in shares of XP by 94.1% in the second quarter. National Pension Service now owns 207,699 shares of the company’s stock valued at $3,377,000 after purchasing an additional 100,677 shares during the last quarter. Bank of America Corp DE grew its position in shares of XP by 33.4% in the first quarter. Bank of America Corp DE now owns 5,147,245 shares of the company’s stock valued at $98,004,000 after purchasing an additional 1,289,393 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of XP by 44.9% in the first quarter. Quantinno Capital Management LP now owns 209,252 shares of the company’s stock valued at $3,984,000 after purchasing an additional 64,829 shares during the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.

XP Stock Performance

XP opened at $14.29 on Friday. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $22.40 and its 200-day moving average is $19.20. The stock has a market cap of $7.68 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 0.33 and a beta of 1.01. XP has a twelve month low of $13.78 and a twelve month high of $32.73.

XP (NASDAQ:XP) last announced its earnings results on Monday, August 17th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. The firm had revenue of $943.55 million for the quarter, compared to the consensus estimate of $935.15 million. XP had a return on equity of 22.19% and a net margin of 27.20%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. On average, analysts predict that XP will post 2.08 earnings per share for the current year.

About XP

XP Inc is a Brazilian financial services company that operates a technology-driven investment and financial products platform. Through its digital channels and network of advisors, the company offers access to products including stocks, bonds, investment funds, exchange-traded funds, insurance and retirement products. It serves individual investors, businesses, institutional clients and independent financial advisors.

The company’s principal brands and businesses include XP, Rico and Clear, which provide brokerage and investment services to different customer segments.