XP Inc. (NASDAQ:XP) Stock Has Consensus Target Price of $23.50 According to Analysts

Shares of XP Inc. (NASDAQ:XP) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $23.50.

A number of equities research analysts have issued reports on XP shares. Itau BBA Securities raised shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Monday, August 31st. Weiss Ratings raised XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Finally, Citigroup upped their target price on XP from $23.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 29th.

XP Stock Performance

Shares of XP stock opened at $21.50 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.80 and a current ratio of 4.80. XP has a fifty-two week low of $14.80 and a fifty-two week high of $23.13. The stock has a 50 day moving average price of $18.37 and a two-hundred day moving average price of $17.89. The company has a market capitalization of $11.55 billion, a P/E ratio of 11.26, a PEG ratio of 0.57 and a beta of 1.01.

XP (NASDAQ:XP) last issued its earnings results on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $943.55 million for the quarter, compared to analysts’ expectations of $935.15 million. XP had a net margin of 27.20% and a return on equity of 22.19%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $2.46 earnings per share. Analysts expect that XP will post 2.09 earnings per share for the current year.

Insider Buying and Selling at XP

In other news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $19.58, for a total value of $2,413,372.06. Following the completion of the transaction, the director owned 1,500,000 shares of the company’s stock, valued at approximately $29,370,000. This represents a 7.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On XP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in XP by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,855 shares of the company’s stock worth $227,000 after buying an additional 573 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in XP by 46.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,471 shares of the company’s stock worth $47,000 after purchasing an additional 781 shares in the last quarter. Inspire Investing LLC grew its holdings in XP by 1.0% during the 1st quarter. Inspire Investing LLC now owns 89,121 shares of the company’s stock valued at $1,697,000 after buying an additional 906 shares in the last quarter. OneAscent Financial Services LLC grew its holdings in XP by 7.3% during the 4th quarter. OneAscent Financial Services LLC now owns 19,837 shares of the company’s stock valued at $325,000 after buying an additional 1,344 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of XP by 117.3% during the first quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock valued at $63,000 after buying an additional 1,775 shares during the last quarter. Hedge funds and other institutional investors own 59.15% of the company’s stock.

About XP

XP Inc is a Brazil-based financial services platform that provides investment, banking and related financial products to individuals, businesses and institutional clients. Through its digital platforms and network of financial professionals, the company offers access to investments such as stocks, bonds, mutual funds, exchange-traded funds, real estate funds, retirement products and insurance.

The company operates a portfolio of brands that includes XP, Rico and Clear, serving customers with different investment needs and levels of experience.