StoneCo (NASDAQ:STNE – Get 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
StoneCo Company Profile
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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