Brokerages Set $30.33 Price Target for Arco Platform Ltd (ARCE)
Arco Platform Ltd (NASDAQ:ARCE) has received a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.
Analysts have set a one year consensus price objective of $30.33 for the company and are forecasting that the company will post $0.12 earnings per share for the current quarter, according to Zacks. Zacks has also given Arco Platform an industry rank of 49 out of 255 based on the ratings given to its competitors.
Separately, Zacks Investment Research downgraded shares of Arco Platform from a “hold” rating to a “sell” rating in a report on Thursday, March 28th.
Arco Platform (NASDAQ:ARCE) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.08. The firm had revenue of $31.78 million for the quarter. As a group, equities research analysts forecast that Arco Platform will post 0.67 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC purchased a new position in shares of Arco Platform in the third quarter worth $51,534,000. BlackRock Inc. lifted its holdings in shares of Arco Platform by 5.5% in the fourth quarter. BlackRock Inc. now owns 1,065,871 shares of the company’s stock worth $23,577,000 after buying an additional 55,405 shares in the last quarter. Victory Capital Management Inc. raised its stake in Arco Platform by 40.7% during the fourth quarter. Victory Capital Management Inc. now owns 828,909 shares of the company’s stock valued at $18,335,000 after purchasing an additional 239,879 shares in the last quarter. Bamco Inc. NY purchased a new stake in Arco Platform during the third quarter valued at $8,388,000. Finally, Scge Management L.P. purchased a new stake in Arco Platform during the third quarter valued at $6,840,000.
Arco Platform Company Profile
Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform.
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