StoneCo (NASDAQ:STNE) Given New $19.00 Price Target at Susquehanna

StoneCo (NASDAQ:STNE) had its price objective cut by Susquehanna from $22.00 to $19.00 in a report issued on Wednesday,Benzinga reports. They currently have a positive rating on the stock.

STNE has been the subject of several other reports. Morgan Stanley reiterated an “underweight” rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays lowered their target price on StoneCo from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Finally, UBS Group raised their target price on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, StoneCo presently has a consensus rating of “Moderate Buy” and an average target price of $17.40.

StoneCo Stock Down 9.6 %

Shares of StoneCo stock opened at $10.48 on Wednesday. The stock has a market capitalization of $3.24 billion, a P/E ratio of 8.19, a PEG ratio of 0.41 and a beta of 2.29. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average price of $11.34 and a two-hundred day moving average price of $12.81. StoneCo has a 12-month low of $10.45 and a 12-month high of $19.46.

StoneCo (NASDAQ:STNE) last issued its earnings results on Wednesday, August 14th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). The firm had revenue of $615.13 million during the quarter, compared to analyst estimates of $590.74 million. StoneCo had a net margin of 16.02% and a return on equity of 13.69%. Equities analysts expect that StoneCo will post 1.21 earnings per share for the current year.

Institutional Investors Weigh In On StoneCo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Freedom Investment Management Inc. boosted its position in shares of StoneCo by 22.9% during the 3rd quarter. Freedom Investment Management Inc. now owns 31,510 shares of the company’s stock valued at $355,000 after purchasing an additional 5,877 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of StoneCo by 313.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 472,758 shares of the company’s stock valued at $5,323,000 after purchasing an additional 358,398 shares in the last quarter. FMR LLC boosted its holdings in StoneCo by 466.4% in the third quarter. FMR LLC now owns 64,492 shares of the company’s stock worth $726,000 after acquiring an additional 53,106 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in StoneCo by 18.8% in the third quarter. The Manufacturers Life Insurance Company now owns 146,442 shares of the company’s stock worth $1,649,000 after acquiring an additional 23,167 shares in the last quarter. Finally, Independent Advisor Alliance boosted its holdings in StoneCo by 23.7% in the third quarter. Independent Advisor Alliance now owns 36,295 shares of the company’s stock worth $409,000 after acquiring an additional 6,947 shares in the last quarter. 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.