StoneCo (NASDAQ:STNE) Given New $6.00 Price Target at Morgan Stanley

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

Several other equities analysts have also recently weighed in on STNE. Wells Fargo & Company raised shares of StoneCo from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Citigroup reaffirmed a “neutral” rating and set a $9.00 target price (down from $19.00) on shares of StoneCo in a research note on Thursday, January 16th. The Goldman Sachs Group cut their target price on shares of StoneCo from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. 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 note on Monday, December 16th. Finally, 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 note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

StoneCo Stock Performance

STNE opened at $11.10 on Friday. The firm has a market cap of $3.43 billion, a P/E ratio of 8.67, a PEG ratio of 0.41 and a beta of 2.33. StoneCo has a 1-year low of $7.72 and a 1-year high of $17.93. The company has a 50 day simple moving average of $9.36 and a two-hundred day simple moving average of $9.92. 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 (NASDAQ:STNE) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The business 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 analysts forecast that StoneCo will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On StoneCo

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