StoneCo (NASDAQ:STNE) Shares Up 4.7% – Here’s What Happened

by · The Markets Daily

StoneCo Ltd. (NASDAQ:STNE – Get Free Report)’s stock price was up 4.7% on Monday . The stock traded as high as $14.24 and last traded at $14.40. Approximately 1,320,751 shares traded hands during trading, a decline of 80% from the average daily volume of 6,459,930 shares. The stock had previously closed at $13.75.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company upgraded StoneCo from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, March 19th. Barclays lifted their price objective on shares of StoneCo from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 23rd. Citigroup raised shares of StoneCo from a “neutral” rating to a “buy” rating and increased their target price for the company from $9.00 to $15.00 in a research report on Tuesday, April 22nd. The Goldman Sachs Group cut their price objective on shares of StoneCo from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Morgan Stanley increased their target price on shares of StoneCo from $5.70 to $6.00 and gave the stock an “underweight” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, StoneCo currently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

View Our Latest Report on StoneCo

StoneCo Trading Up 2.0 %

The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $4.33 billion, a P/E ratio of 10.98, a PEG ratio of 0.41 and a beta of 2.05. The stock has a fifty day simple moving average of $10.73 and a 200 day simple moving average of $9.95.

StoneCo (NASDAQ:STNE – Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. StoneCo had a return on equity of 13.92% and a net margin of 16.02%. The firm had revenue of $582.20 million for the quarter, compared to analyst estimates of $3.59 billion. As a group, research analysts forecast that StoneCo Ltd. will post 1.16 EPS for the current year.

Hedge Funds Weigh In On StoneCo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STNE. GAMMA Investing LLC raised its stake in StoneCo by 1,486.3% during the first quarter. GAMMA Investing LLC now owns 2,903 shares of the company’s stock worth $30,000 after purchasing an additional 2,720 shares during the period. Jones Financial Companies Lllp raised its stake in StoneCo by 254.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company’s stock valued at $34,000 after buying an additional 3,056 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of StoneCo by 627.0% during the fourth quarter. Sterling Capital Management LLC now owns 4,551 shares of the company’s stock worth $36,000 after purchasing an additional 3,925 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of StoneCo by 143.0% during the first quarter. Harbor Capital Advisors Inc. now owns 4,614 shares of the company’s stock worth $48,000 after purchasing an additional 2,715 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of StoneCo by 166.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,400 shares of the company’s stock worth $51,000 after buying an additional 4,000 shares during the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.

About StoneCo

(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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