Citigroup Reaffirms “Neutral” Rating for StoneCo (NASDAQ:STNE)

StoneCo (NASDAQ:STNE)‘s stock had its “neutral” rating reaffirmed by equities researchers at Citigroup in a research note issued on Thursday,Benzinga reports. They currently have a $9.00 price target on the stock, down from their prior price target of $19.00. Citigroup’s target price indicates a potential upside of 2.97% from the stock’s previous close.

STNE has been the subject of several other research reports. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Susquehanna reduced their target price on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a report on Wednesday, November 13th. Barclays decreased their price target on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, StoneCo currently has an average rating of “Moderate Buy” and a consensus price target of $14.75.

StoneCo Stock Up 6.2 %

StoneCo stock opened at $8.74 on Thursday. StoneCo has a one year low of $7.72 and a one year high of $19.46. The stock has a fifty day moving average of $9.17 and a 200 day moving average of $11.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $2.70 billion, a PE ratio of 6.83, a price-to-earnings-growth ratio of 0.30 and a beta of 2.23.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of StoneCo in the third quarter valued at about $125,000. Point72 Hong Kong Ltd purchased a new position in StoneCo in the 2nd quarter worth approximately $135,000. Covestor Ltd lifted its holdings in StoneCo by 40.9% in the 3rd quarter. Covestor Ltd now owns 13,350 shares of the company’s stock worth $150,000 after purchasing an additional 3,878 shares in the last quarter. XTX Topco Ltd bought a new position in StoneCo in the 3rd quarter worth approximately $167,000. Finally, Sanctuary Advisors LLC purchased a new stake in StoneCo during the 3rd quarter valued at approximately $156,000. Institutional investors own 73.19% of the company’s stock.

About StoneCo

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.