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.
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.
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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