StoneCo (NASDAQ:STNE) Trading Up 6.1%

StoneCo Ltd. (NASDAQ:STNEGet Rating)’s share price was up 6.1% on Wednesday . The company traded as high as $10.29 and last traded at $10.27. Approximately 584,241 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 5,125,351 shares. The stock had previously closed at $9.68.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on STNE shares. Susquehanna reduced their price objective on shares of StoneCo from $28.00 to $20.00 in a research report on Monday, July 11th. Susquehanna Bancshares reduced their target price on shares of StoneCo from $28.00 to $20.00 in a research report on Monday, July 11th. Wells Fargo & Company reduced their target price on shares of StoneCo from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 8th. Finally, The Goldman Sachs Group lowered shares of StoneCo from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $9.80 to $7.80 in a research report on Tuesday, September 6th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, StoneCo presently has an average rating of “Hold” and an average price target of $16.63.

StoneCo Price Performance

The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.19. The company’s 50 day simple moving average is $9.84 and its two-hundred day simple moving average is $9.83.

StoneCo (NASDAQ:STNEGet Rating) last announced its earnings results on Thursday, August 18th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.20 billion. StoneCo had a negative net margin of 36.63% and a negative return on equity of 7.68%. StoneCo’s revenue was up 275.6% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. On average, equities analysts predict that StoneCo Ltd. will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On StoneCo

Institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of StoneCo during the first quarter worth $109,566,000. Blackstone Inc. acquired a new stake in shares of StoneCo during the first quarter worth $51,661,000. Kora Management LP lifted its stake in shares of StoneCo by 329.1% during the fourth quarter. Kora Management LP now owns 4,686,000 shares of the company’s stock worth $79,006,000 after buying an additional 3,594,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of StoneCo by 951.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,788,600 shares of the company’s stock worth $44,327,000 after buying an additional 3,428,320 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of StoneCo during the first quarter worth $35,504,000. 59.69% of the stock is currently owned by institutional investors and hedge funds.

About StoneCo

(Get Rating)

StoneCo Ltd. provides financial technology 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 technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.

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