StoneCo (NASDAQ:STNE) Price Target Raised to $6.00 at Morgan Stanley

StoneCo (NASDAQ:STNE) had its price target raised by Morgan Stanley from $5.70 to $6.00 in a research report report published on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company upgraded shares of StoneCo from an “equal weight” rating to an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of StoneCo from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Citigroup restated a “neutral” rating and set a $9.00 price target (down previously from $19.00) on shares of StoneCo in a research report on Thursday, January 16th. Barclays cut their target price on shares of StoneCo from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

StoneCo Stock Performance

Shares of STNE stock opened at $11.10 on Friday. The firm has a 50-day moving average of $9.36 and a 200-day moving average of $9.96. The company has a market cap of $3.43 billion, a P/E ratio of 8.67, a P/E/G ratio of 0.41 and a beta of 2.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. StoneCo has a one year low of $7.72 and a one year high of $17.93.

StoneCo (NASDAQ:STNE) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $582.20 million during the quarter, compared to analyst estimates of $3.59 billion. StoneCo had a net margin of 16.02% and a return on equity of 13.92%. Equities research analysts forecast that StoneCo will post 1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On StoneCo

A number of institutional investors and hedge funds have recently modified their holdings of STNE. Squadra Investments Gestao DE Recursos LTDA. lifted its holdings in shares of StoneCo by 46.8% in the fourth quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 13,951,183 shares of the company’s stock worth $111,191,000 after buying an additional 4,446,709 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of StoneCo by 36.2% in the third quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock worth $128,617,000 after buying an additional 3,035,530 shares in the last quarter. Norges Bank purchased a new stake in shares of StoneCo in the fourth quarter worth about $22,642,000. State Street Corp lifted its holdings in shares of StoneCo by 51.0% in the third quarter. State Street Corp now owns 7,972,037 shares of the company’s stock worth $89,765,000 after buying an additional 2,692,558 shares in the last quarter. Finally, Atmos Capital Gestao DE Recursos LTDA. raised its stake in StoneCo by 23.0% in the fourth quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 11,623,836 shares of the company’s stock valued at $92,642,000 after purchasing an additional 2,173,389 shares in the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Company Profile

StoneCo Ltd. provides financial technology and software 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 sells solutions to brick-and-mortar and digital merchants through sales team.