StoneCo (NASDAQ:STNE) Releases Earnings Results, Meets Expectations

by · The Markets Daily

StoneCo (NASDAQ:STNE – Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43, Zacks reports. The company had revenue of $669.49 million during the quarter, compared to the consensus estimate of $669.81 million. StoneCo had a negative net margin of 7.28% and a positive return on equity of 20.42%.

StoneCo Stock Performance

STNE traded down $2.04 during trading on Friday, reaching $16.83. 18,615,914 shares of the company’s stock were exchanged, compared to its average volume of 3,926,425. StoneCo has a fifty-two week low of $7.72 and a fifty-two week high of $19.95. The company has a market capitalization of $4.81 billion, a P/E ratio of -31.17, a PEG ratio of 0.37 and a beta of 2.01. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average price of $18.23 and a 200 day moving average price of $15.69.

Wall Street Analyst Weigh In

STNE has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price target on StoneCo from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Wall Street Zen downgraded shares of StoneCo from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Bank of America boosted their price target on shares of StoneCo from $15.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Zacks Research raised shares of StoneCo to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price objective on StoneCo from $15.50 to $18.50 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, StoneCo presently has an average rating of “Moderate Buy” and a consensus price target of $17.44.

Read Our Latest Stock Report on STNE

Institutional Investors Weigh In On StoneCo

A number of institutional investors have recently added to or reduced their stakes in STNE. AQR Capital Management LLC acquired a new stake in shares of StoneCo during the 1st quarter worth about $902,000. Strs Ohio acquired a new stake in StoneCo in the first quarter worth about $70,000. Prudential Financial Inc. raised its holdings in StoneCo by 37.4% during the 2nd quarter. Prudential Financial Inc. now owns 28,075 shares of the company’s stock worth $450,000 after purchasing an additional 7,635 shares during the last quarter. Invesco Ltd. raised its stake in shares of StoneCo by 8.3% during the second quarter. Invesco Ltd. now owns 256,142 shares of the company’s stock worth $4,109,000 after buying an additional 19,723 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in StoneCo by 10.0% in the second quarter. First Trust Advisors LP now owns 13,995 shares of the company’s stock valued at $224,000 after purchasing an additional 1,273 shares during the last quarter. 73.19% of the stock is owned by institutional investors and hedge funds.

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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