StoneCo (NASDAQ:STNE) Announces Quarterly Earnings Results, Meets Estimates

StoneCo (NASDAQ:STNE) issued its earnings results on Thursday. The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46, FiscalAI reports. The firm had revenue of $129.73 million during the quarter, compared to analysts’ expectations of $708.24 million. StoneCo had a return on equity of 21.05% and a net margin of 23.82%.

StoneCo Price Performance

NASDAQ STNE traded up $0.23 on Thursday, hitting $10.23. 7,648,170 shares of the company were exchanged, compared to its average volume of 5,154,293. The firm has a 50 day moving average of $10.92 and a two-hundred day moving average of $12.93. The company has a market cap of $2.55 billion, a P/E ratio of 4.09, a P/E/G ratio of 0.29 and a beta of 1.74. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.57. StoneCo has a 1-year low of $9.45 and a 1-year high of $19.95.

Insider Buying and Selling at StoneCo

In other StoneCo news, Director Silvio Jose Morais sold 9,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.29, for a total value of $101,610.00. Following the completion of the transaction, the director directly owned 21,000 shares of the company’s stock, valued at approximately $237,090. The trade was a 30.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new position in StoneCo in the 4th quarter valued at $28,000. Ensign Peak Advisors Inc bought a new stake in shares of StoneCo during the fourth quarter worth $33,000. Advisory Services Network LLC acquired a new position in shares of StoneCo during the third quarter valued at $37,000. Strs Ohio bought a new position in StoneCo in the first quarter valued at about $70,000. Finally, Quadrant Capital Group LLC acquired a new stake in StoneCo in the third quarter worth about $87,000. Institutional investors own 73.19% of the company’s stock.

Analyst Ratings Changes

STNE has been the topic of a number of recent research reports. UBS Group decreased their price objective on StoneCo from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Citigroup lowered StoneCo from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $11.00 in a research note on Friday, May 15th. Weiss Ratings downgraded shares of StoneCo from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. BTIG Research lowered their target price on shares of StoneCo from $22.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of StoneCo from $20.00 to $16.50 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.59.

StoneCo Company Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.