PICS (NASDAQ:PICS) Stock Gets Downgrade from Zacks Research

PICS (NASDAQ:PICS) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday, Zacks reports.

Other equities research analysts have also recently issued research reports about the company. Mizuho reduced their price objective on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, August 26th. Wall Street Zen upgraded shares of PICS from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Royal Bank Of Canada lowered their target price on shares of PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 25th. Finally, Weiss Ratings raised shares of PICS from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.50.

PICS Stock Up 4.0%

PICS opened at $14.14 on Monday. The firm has a market cap of $1.51 billion and a price-to-earnings ratio of 16.07. PICS has a 52 week low of $8.08 and a 52 week high of $19.95. The business’s 50 day moving average is $10.82 and its two-hundred day moving average is $11.28.

Institutional Investors Weigh In On PICS

A number of institutional investors and hedge funds have recently made changes to their positions in PICS. BlueCrest Capital Management Ltd acquired a new stake in shares of PICS during the second quarter worth about $3,986,000. Whetstone Capital Advisors LLC purchased a new position in shares of PICS during the second quarter worth about $2,189,000. Finally, Readystate Asset Management LP purchased a new position in shares of PICS during the second quarter worth about $744,000.

About PICS

PicS N.V. operates as a digital financial services company which provides digital wallet and application for individuals and businesses principally in Brazil. It offers a range of transactional products for its consumers, including Pix, an instant payment system, peer-to-peer between PicPay accounts, bill payments, payroll portability, global account and a payment assistant. PicS N.V., formerly known as Picpay Holdings Netherlands B.V., is based in S?o Paulo, Brazil.