StoneCo (NASDAQ:STNE) Shares Gap Up to $12.34

Shares of StoneCo Ltd. (NASDAQ:STNEGet Free Report) gapped up before the market opened on Monday . The stock had previously closed at $12.34, but opened at $12.72. StoneCo shares last traded at $12.69, with a volume of 538,171 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Barclays decreased their price target on shares of StoneCo from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Monday, May 20th. Citigroup lifted their price target on shares of StoneCo from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Evercore ISI decreased their price target on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. raised shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Thursday, June 6th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.11.

Read Our Latest Stock Analysis on StoneCo

StoneCo Stock Performance

The stock has a market capitalization of $4.15 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.33 and a beta of 2.33. The company’s 50-day moving average is $13.74 and its two-hundred day moving average is $15.82. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25.

StoneCo (NASDAQ:STNEGet Free Report) last issued its quarterly earnings data on Monday, May 13th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $623.12 million for the quarter, compared to the consensus estimate of $633.35 million. StoneCo had a net margin of 14.08% and a return on equity of 12.35%. As a group, sell-side analysts anticipate that StoneCo Ltd. will post 1.49 EPS for the current fiscal year.

Institutional Trading of StoneCo

Hedge funds have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in StoneCo in the 4th quarter valued at about $26,000. USA Financial Formulas bought a new stake in shares of StoneCo during the 4th quarter worth about $26,000. Lazard Asset Management LLC bought a new stake in shares of StoneCo during the 1st quarter worth about $41,000. Headlands Technologies LLC bought a new stake in shares of StoneCo during the 4th quarter worth about $56,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of StoneCo by 152.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock worth $58,000 after buying an additional 2,110 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors.

StoneCo Company Profile

(Get Free Report)

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.

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