StoneCo (NASDAQ:STNE) Announces Earnings Results, Beats Estimates By $0.02 EPS

StoneCo (NASDAQ:STNEGet Rating) posted its quarterly earnings results on Thursday. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02, reports. The firm had revenue of $478.88 million for the quarter, compared to analyst estimates of $477.52 million. StoneCo had a negative net margin of 15.73% and a positive return on equity of 2.46%. StoneCo updated its Q4 2022 guidance to EPS.

StoneCo Price Performance

StoneCo stock opened at $11.53 on Friday. The company’s 50 day simple moving average is $10.35 and its 200-day simple moving average is $9.70. StoneCo has a 1 year low of $6.81 and a 1 year high of $20.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.24 and a quick ratio of 1.24.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of StoneCo from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $9.80 to $7.80 in a research report on Tuesday, September 6th. Wells Fargo & Company lifted their target price on shares of StoneCo from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.84.

Institutional Investors Weigh In On StoneCo

A number of institutional investors and hedge funds have recently made changes to their positions in STNE. National Bank of Canada FI increased its stake in StoneCo by 75.8% during the 1st quarter. National Bank of Canada FI now owns 3,480 shares of the company’s stock worth $41,000 after buying an additional 1,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in StoneCo during the 1st quarter worth approximately $60,000. Captrust Financial Advisors increased its stake in StoneCo by 281.5% during the 1st quarter. Captrust Financial Advisors now owns 6,268 shares of the company’s stock worth $73,000 after buying an additional 4,625 shares during the period. Asset Management One Co. Ltd. increased its stake in StoneCo by 33.8% during the 2nd quarter. Asset Management One Co. Ltd. now owns 6,665 shares of the company’s stock worth $51,000 after buying an additional 1,684 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new stake in StoneCo during the 1st quarter worth approximately $100,000. 59.69% of the stock is owned by hedge funds and other institutional investors.

StoneCo Company Profile

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StoneCo Ltd. provides financial technology 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 technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.

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Earnings History for StoneCo (NASDAQ:STNE)

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