XP Inc. (NASDAQ:XP) Stock Has Average Price Target of $23.50 According to Analysts

Shares of XP Inc. (NASDAQ:XP) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $23.50.

XP has been the topic of several research analyst reports. Itau BBA Securities raised XP from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Monday, August 31st. Weiss Ratings raised XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Finally, Citigroup raised their price target on shares of XP from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday.

Insiders Place Their Bets

In other news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $19.58, for a total value of $2,413,372.06. Following the completion of the sale, the director owned 1,500,000 shares of the company’s stock, valued at approximately $29,370,000. This represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Trading of XP

Several large investors have recently made changes to their positions in XP. National Pension Service grew its position in shares of XP by 94.1% in the 2nd quarter. National Pension Service now owns 207,699 shares of the company’s stock worth $3,377,000 after buying an additional 100,677 shares during the period. Engineers Gate Manager LP boosted its holdings in shares of XP by 161.9% in the second quarter. Engineers Gate Manager LP now owns 168,230 shares of the company’s stock worth $2,735,000 after buying an additional 103,990 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of XP during the 2nd quarter valued at $91,000. Squarepoint Ops LLC increased its stake in shares of XP by 83.3% in the 2nd quarter. Squarepoint Ops LLC now owns 165,235 shares of the company’s stock worth $2,687,000 after purchasing an additional 75,114 shares in the last quarter. Finally, Corient Private Wealth LP purchased a new position in shares of XP during the 2nd quarter valued at about $402,000. 59.15% of the stock is currently owned by institutional investors and hedge funds.

XP Stock Up 1.6%

XP stock opened at $21.50 on Wednesday. XP has a 52 week low of $14.80 and a 52 week high of $23.13. The business has a 50-day simple moving average of $18.37 and a 200 day simple moving average of $17.90. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 0.07. The company has a market cap of $11.55 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 0.57 and a beta of 1.01.

XP (NASDAQ:XP) last released its earnings results on Monday, August 17th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. The firm had revenue of $943.55 million for the quarter, compared to analyst estimates of $935.15 million. XP had a net margin of 27.20% and a return on equity of 22.19%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. Sell-side analysts anticipate that XP will post 2.09 EPS for the current fiscal year.

XP Company Profile

XP Inc is a Brazil-based financial services platform that provides investment, banking and related financial products to individuals, businesses and institutional clients. Through its digital platforms and network of financial professionals, the company offers access to investments such as stocks, bonds, mutual funds, exchange-traded funds, real estate funds, retirement products and insurance.

The company operates a portfolio of brands that includes XP, Rico and Clear, serving customers with different investment needs and levels of experience.