PICS (NASDAQ:PICS) Stock Has Average Price Target of $22.50

Shares of PICS (NASDAQ:PICS) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $22.50.

PICS has been the subject of a number of research analyst reports. Weiss Ratings upgraded PICS from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Royal Bank Of Canada lowered their target price on PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 25th. Wall Street Zen upgraded PICS from a “hold” rating to a “buy” rating in a research note on Sunday. Mizuho dropped their price target on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, August 26th. Finally, Zacks Research downgraded PICS from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 18th.

Institutional Investors Weigh In On PICS

A number of hedge funds and other institutional investors have recently modified their holdings of PICS. BlueCrest Capital Management Ltd acquired a new stake in PICS in the 2nd quarter worth about $3,986,000. Whetstone Capital Advisors LLC bought a new stake in PICS in the 2nd quarter valued at about $2,189,000. Finally, Readystate Asset Management LP bought a new stake in PICS in the 2nd quarter valued at about $744,000.

PICS Price Performance

PICS stock opened at $13.60 on Wednesday. The stock has a market cap of $1.45 billion and a P/E ratio of 15.45. PICS has a twelve month low of $8.08 and a twelve month high of $19.95. The company’s 50-day moving average price is $10.67 and its two-hundred day moving average price is $11.14.

About PICS

PicS N.V. operates as a digital financial services company which provides digital wallet and application for individuals and businesses principally in Brazil. It offers a range of transactional products for its consumers, including Pix, an instant payment system, peer-to-peer between PicPay accounts, bill payments, payroll portability, global account and a payment assistant. PicS N.V., formerly known as Picpay Holdings Netherlands B.V., is based in S?o Paulo, Brazil.