XP (NASDAQ:XP) Stock Gets Price Target Reduction from UBS Group

XP (NASDAQ:XP) had its price target lowered by analysts at UBS Group from $37.00 to $23.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group‘s price target indicates a potential upside of 55.62% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings upgraded XP from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. lifted their price objective on XP from $26.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th. Morgan Stanley set a $23.00 price objective on XP in a research report on Thursday, October 29th. Santander downgraded XP to a “neutral” rating in a research report on Thursday, October 29th. Finally, Itau BBA Securities upgraded shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Monday, August 31st. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.83.

XP Stock Down 2.6%

XP stock opened at $14.78 on Thursday. XP has a twelve month low of $13.78 and a twelve month high of $32.73. The stock’s fifty day simple moving average is $22.18 and its 200-day simple moving average is $19.15. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $7.94 billion, a P/E ratio of 7.74, a P/E/G ratio of 0.35 and a beta of 1.18.

XP (NASDAQ:XP) last announced its quarterly earnings data on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.03. The business had revenue of $943.55 million for the quarter, compared to analysts’ expectations of $935.15 million. XP had a return on equity of 22.19% and a net margin of 27.20%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $2.46 earnings per share. As a group, equities analysts expect that XP will post 2.08 earnings per share for the current fiscal year.

Insider Activity at XP

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

Institutional Trading of XP

Institutional investors have recently bought and sold shares of the business. Eurizon Capital SGR S.p.A. boosted its position in shares of XP by 247.7% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 302,941 shares of the company’s stock worth $6,360,000 after acquiring an additional 215,823 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of XP by 18.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 22,649 shares of the company’s stock valued at $476,000 after acquiring an additional 3,581 shares during the last quarter. Lido Advisors LLC acquired a new stake in shares of XP during the 3rd quarter worth about $211,000. Ethic Inc. raised its position in shares of XP by 56.3% during the 3rd quarter. Ethic Inc. now owns 64,968 shares of the company’s stock worth $1,364,000 after acquiring an additional 23,407 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of XP during the 3rd quarter worth about $205,000. 59.15% of the stock is owned by hedge funds and other institutional investors.

About XP

XP Inc is a Brazilian financial services company that operates a technology-driven investment and financial products platform. Through its digital channels and network of advisors, the company offers access to products including stocks, bonds, investment funds, exchange-traded funds, insurance and retirement products. It serves individual investors, businesses, institutional clients and independent financial advisors.

The company’s principal brands and businesses include XP, Rico and Clear, which provide brokerage and investment services to different customer segments.