Evercore ISI upgraded shares of StoneCo (NASDAQ:STNE – Get Rating) from an in-line rating to an outperform rating in a report published on Monday, Marketbeat.com reports. They currently have $16.00 price objective on the stock, up from their previous price objective of $10.00.
A number of other analysts have also recently issued reports on STNE. Wells Fargo & Company raised their price objective on StoneCo from $11.00 to $12.00 and gave the company an equal weight rating in a research report on Friday, November 18th. The Goldman Sachs Group cut StoneCo from a neutral rating to a sell rating and cut their price objective for the company from $9.80 to $7.80 in a research report on Tuesday, September 6th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $16.80.
StoneCo Trading Up 0.6 %
STNE stock opened at $11.75 on Monday. The business has a fifty day moving average of $10.61 and a 200-day moving average of $9.86. The company has a market cap of $3.67 billion, a P/E ratio of -13.82 and a beta of 2.15. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.22. StoneCo has a twelve month low of $6.81 and a twelve month high of $19.66.
Institutional Investors Weigh In On StoneCo
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in StoneCo by 27.8% in the third quarter. BlackRock Inc. now owns 21,451,911 shares of the company’s stock valued at $204,437,000 after acquiring an additional 4,666,575 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in StoneCo by 2.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,578,416 shares of the company’s stock worth $73,754,000 after acquiring an additional 213,825 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in StoneCo by 2.3% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 9,578,416 shares of the company’s stock worth $72,317,000 after purchasing an additional 213,825 shares during the period. FMR LLC grew its position in StoneCo by 75.9% in the 2nd quarter. FMR LLC now owns 6,872,493 shares of the company’s stock worth $52,918,000 after purchasing an additional 2,964,737 shares during the period. Finally, Kora Management LP grew its position in StoneCo by 98.2% in the 2nd quarter. Kora Management LP now owns 4,643,000 shares of the company’s stock worth $35,751,000 after purchasing an additional 2,300,000 shares during the period. Hedge funds and other institutional investors own 59.69% of the company’s stock.
StoneCo Company Profile
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.
- Get a free copy of the StockNews.com research report on StoneCo (STNE)
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