UBS Group Boosts StoneCo (NASDAQ:STNE) Price Target to $18.00

StoneCo (NASDAQ:STNE) had its price objective raised by UBS Group from $17.00 to $18.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

STNE has been the topic of several other reports. 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. Barclays dropped their price target on StoneCo from $16.00 to $14.00 and set an equal weight rating on the stock in a research report on Thursday, August 1st. Evercore ISI cut their price target on StoneCo from $25.00 to $23.00 and set an outperform rating for the company in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. upgraded shares of StoneCo from a neutral rating to an overweight rating and set a $20.00 price objective on the stock in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, StoneCo currently has an average rating of Moderate Buy and an average price target of $19.00.

StoneCo Stock Performance

NASDAQ:STNE opened at $13.26 on Thursday. The firm has a market capitalization of $4.17 billion, a PE ratio of 11.95, a PEG ratio of 0.49 and a beta of 2.32. StoneCo has a 1 year low of $9.34 and a 1 year high of $19.46. 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 firm’s fifty day simple moving average is $13.06 and its 200 day simple moving average is $14.70.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Point72 Asset Management L.P. boosted its stake in StoneCo by 10.2% during the second quarter. Point72 Asset Management L.P. now owns 8,386,945 shares of the company’s stock worth $100,559,000 after buying an additional 779,445 shares in the last quarter. Marshall Wace LLP boosted its position in shares of StoneCo by 204.1% during the 2nd quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock valued at $92,823,000 after acquiring an additional 5,195,787 shares in the last quarter. Polunin Capital Partners Ltd increased its stake in StoneCo by 10.5% in the first quarter. Polunin Capital Partners Ltd now owns 3,681,947 shares of the company’s stock valued at $61,157,000 after acquiring an additional 350,656 shares during the period. Norges Bank acquired a new position in StoneCo in the fourth quarter worth about $58,777,000. Finally, Coronation Fund Managers Ltd. lifted its stake in StoneCo by 16.0% during the second quarter. Coronation Fund Managers Ltd. now owns 2,841,696 shares of the company’s stock worth $34,072,000 after purchasing an additional 392,958 shares during the period. 73.19% of the stock is currently owned by institutional investors and hedge funds.

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.