PagSeguro Digital (PAGS) Shares Gap Down on Analyst Downgrade

PagSeguro Digital Ltd (NYSE:PAGS) shares gapped down prior to trading on Monday after KeyCorp lowered their price target on the stock from $42.00 to $35.00. The stock had previously closed at $25.59, but opened at $24.00. KeyCorp currently has an overweight rating on the stock. PagSeguro Digital shares last traded at $22.80, with a volume of 254304 shares traded.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut PagSeguro Digital from a “hold” rating to a “sell” rating in a research note on Thursday, August 16th. Citigroup raised PagSeguro Digital from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 13th. ValuEngine cut PagSeguro Digital from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Finally, Deutsche Bank reduced their target price on PagSeguro Digital from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, August 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $33.75.

Several large investors have recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of PagSeguro Digital by 13.7% during the third quarter. Legal & General Group Plc now owns 45,449 shares of the company’s stock valued at $1,258,000 after buying an additional 5,464 shares during the last quarter. Lombard Odier Asset Management USA Corp grew its stake in shares of PagSeguro Digital by 50.0% during the third quarter. Lombard Odier Asset Management USA Corp now owns 525,000 shares of the company’s stock valued at $14,527,000 after buying an additional 174,886 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of PagSeguro Digital by 152.4% during the third quarter. TIAA CREF Investment Management LLC now owns 1,058,608 shares of the company’s stock valued at $29,292,000 after buying an additional 639,260 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of PagSeguro Digital by 22.8% during the third quarter. Teachers Advisors LLC now owns 600,857 shares of the company’s stock valued at $16,626,000 after buying an additional 111,400 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of PagSeguro Digital by 139.4% during the third quarter. Neuberger Berman Group LLC now owns 1,042,716 shares of the company’s stock valued at $28,852,000 after buying an additional 607,178 shares during the last quarter.

The company has a market cap of $2.95 billion and a PE ratio of 40.19.

PagSeguro Digital (NYSE:PAGS) last announced its quarterly earnings data on Thursday, August 30th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. The company had revenue of $279.20 million for the quarter, compared to the consensus estimate of $248.46 million. On average, equities analysts expect that PagSeguro Digital Ltd will post 0.81 EPS for the current fiscal year.

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PagSeguro Digital Company Profile (NYSE:PAGS)

PagSeguro Digital Ltd. provides financial technology solutions and services for micro-merchants, and small and medium-sized businesses in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, an end-to-end digital ecosystem that operates as a closed loop where its clients are able to address their primary day to day financial needs, including receiving and spending funds, and managing and growing their businesses; and Free PagSeguro digital account, which centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem.

Further Reading: Understanding Analyst Recommendations

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