Bradesco Corretora Initiates Coverage on StoneCo (NASDAQ:STNE)

Bradesco Corretora initiated coverage on shares of StoneCo (NASDAQ:STNE) in a research note issued on Thursday, The Fly reports. The firm set a “neutral” rating and a $40.00 price target on the stock. Bradesco Corretora’s price objective suggests a potential upside of 4.38% from the stock’s current price.

STNE has been the topic of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $39.00 price target (up from $33.00) on shares of StoneCo in a report on Thursday, August 15th. Evercore ISI started coverage on shares of StoneCo in a report on Thursday, November 14th. They set an “inline” rating and a $36.00 price objective for the company. Bank of America reaffirmed a “buy” rating and set a $42.00 price objective on shares of StoneCo in a report on Thursday, August 15th. Guggenheim initiated coverage on shares of StoneCo in a research report on Tuesday, September 3rd. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of StoneCo from a “buy” rating to a “hold” rating in a report on Friday, November 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $38.00.

STNE stock traded up $0.02 during trading on Thursday, reaching $38.32. The company’s stock had a trading volume of 2,280,405 shares, compared to its average volume of 2,569,663. StoneCo has a 1 year low of $16.14 and a 1 year high of $45.62. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $10.62 billion, a P/E ratio of 116.12, a price-to-earnings-growth ratio of 1.04 and a beta of 2.33. The company’s fifty day moving average is $36.79 and its 200-day moving average is $32.88.

StoneCo (NASDAQ:STNE) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). StoneCo had a net margin of 28.74% and a return on equity of 12.29%. The business had revenue of $169.33 million for the quarter, compared to the consensus estimate of $131.41 million. Analysts anticipate that StoneCo will post 0.73 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in StoneCo by 10.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,168,221 shares of the company’s stock worth $1,040,276,000 after acquiring an additional 3,234,024 shares during the last quarter. Invesco Ltd. purchased a new position in shares of StoneCo in the second quarter valued at $251,806,000. Maverick Capital Ltd. bought a new stake in StoneCo in the second quarter worth $77,364,000. Bamco Inc. NY increased its position in StoneCo by 103.6% in the second quarter. Bamco Inc. NY now owns 2,103,266 shares of the company’s stock worth $62,215,000 after purchasing an additional 1,069,975 shares during the last quarter. Finally, Echo Street Capital Management LLC increased its position in StoneCo by 240.0% in the second quarter. Echo Street Capital Management LLC now owns 1,629,660 shares of the company’s stock worth $48,205,000 after purchasing an additional 1,150,301 shares during the last quarter. 44.41% of the stock is owned by institutional investors.

About StoneCo

StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.

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Analyst Recommendations for StoneCo (NASDAQ:STNE)

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