StoneCo’s (NASDAQ:STNE) quiet period will end on Tuesday, December 4th. StoneCo had issued 50,724,638 shares in its IPO on October 25th. The total size of the offering was $1,217,391,312 based on an initial share price of $24.00. During StoneCo’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
STNE has been the topic of a number of research analyst reports. Goldman Sachs Group initiated coverage on StoneCo in a research report on Monday, November 19th. They set a “neutral” rating and a $25.60 price target on the stock. Citigroup initiated coverage on StoneCo in a research report on Monday, November 19th. They set a “buy” rating and a $30.00 price target on the stock. Finally, JPMorgan Chase & Co. initiated coverage on StoneCo in a research report on Monday, November 19th. They set a “neutral” rating and a $25.00 price target on the stock.
NASDAQ STNE opened at $23.57 on Monday. StoneCo has a one year low of $20.05 and a one year high of $32.50.
StoneCo Ltd. provides financial technology solutions that empower 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.
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