StoneCo (NASDAQ:STNE) Shares Gap Down to $12.61

StoneCo Ltd. (NASDAQ:STNE)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $12.61, but opened at $11.31. StoneCo shares last traded at $11.71, with a volume of 3,476,710 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays dropped their price objective on shares of StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Morgan Stanley reaffirmed an “underweight” rating and issued a $7.00 price objective (down previously from $16.50) on shares of StoneCo in a report on Thursday. JPMorgan Chase & Co. raised shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Thursday, June 6th. UBS Group lifted their price target on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group lowered their price target on StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, StoneCo has an average rating of “Moderate Buy” and a consensus target price of $17.80.

StoneCo Price Performance

The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 0.45 and a beta of 2.31. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average is $13.11 and its two-hundred day moving average is $14.56.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). StoneCo had a net margin of 15.27% and a return on equity of 13.21%. The business had revenue of $615.13 million during the quarter, compared to analyst estimates of $590.74 million. As a group, research analysts predict that StoneCo Ltd. will post 1.1 earnings per share for the current year.

Institutional Trading of StoneCo

A number of large investors have recently made changes to their positions in STNE. USA Financial Formulas purchased a new position in shares of StoneCo during the fourth quarter worth about $26,000. Central Bank & Trust Co. acquired a new position in StoneCo during the second quarter worth approximately $40,000. Lazard Asset Management LLC acquired a new position in StoneCo during the first quarter worth approximately $41,000. Benjamin F. Edwards & Company Inc. lifted its stake in StoneCo by 152.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock valued at $58,000 after buying an additional 2,110 shares during the last quarter. Finally, Y.D. More Investments Ltd boosted its holdings in shares of StoneCo by 90.2% in the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after acquiring an additional 2,275 shares during the period. 73.19% of the stock is currently 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.