XP Inc. (NASDAQ:XP) Stock Has Consensus Target Price of $28.80

XP Inc. (NASDAQ:XP) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $28.80.

Several equities research analysts have commented on the stock. UBS Group boosted their target price on shares of XP from $25.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. Itau BBA Securities upgraded shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Monday, August 31st. Weiss Ratings upgraded XP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. Citigroup lifted their target price on shares of XP from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. Finally, JPMorgan Chase & Co. upped their target price on XP from $26.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th.

Insider Buying and Selling at XP

In related news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $19.58, for a total value of $2,413,372.06. Following the transaction, the director directly owned 1,500,000 shares of the company’s stock, valued at approximately $29,370,000. This trade represents a 7.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of XP

A number of institutional investors and hedge funds have recently bought and sold shares of XP. ARGA Investment Management LP raised its stake in shares of XP by 4.0% in the 1st quarter. ARGA Investment Management LP now owns 20,699,135 shares of the company’s stock valued at $394,112,000 after acquiring an additional 799,048 shares during the period. Ninety One UK Ltd lifted its stake in shares of XP by 23.6% in the third quarter. Ninety One UK Ltd now owns 9,962,623 shares of the company’s stock worth $209,165,000 after acquiring an additional 1,904,034 shares in the last quarter. Bank of America Corp DE raised its position in shares of XP by 33.4% in the 1st quarter. Bank of America Corp DE now owns 5,147,245 shares of the company’s stock valued at $98,004,000 after purchasing an additional 1,289,393 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in XP by 146.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,930,445 shares of the company’s stock valued at $36,756,000 after acquiring an additional 1,146,057 shares during the last quarter. Finally, Ninety One North America Inc. lifted its position in shares of XP by 1.2% during the third quarter. Ninety One North America Inc. now owns 1,843,127 shares of the company’s stock worth $38,696,000 after purchasing an additional 21,082 shares during the last quarter. Institutional investors and hedge funds own 59.15% of the company’s stock.

XP Price Performance

Shares of NASDAQ XP opened at $30.41 on Friday. XP has a 1-year low of $14.80 and a 1-year high of $32.73. The company has a market cap of $16.34 billion, a PE ratio of 15.92, a P/E/G ratio of 0.70 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.80 and a quick ratio of 4.80. The stock has a fifty day moving average price of $22.54 and a 200 day moving average price of $19.12.

XP (NASDAQ:XP) last issued its earnings results on Monday, August 17th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. XP had a net margin of 27.20% and a return on equity of 22.19%. The business had revenue of $943.55 million for the quarter, compared to the consensus estimate of $935.15 million. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that XP will post 2.08 EPS for the current year.

About XP

XP Inc is a Brazilian financial services company that operates a technology-driven investment and financial products platform. Through its digital channels and network of advisors, the company offers access to products including stocks, bonds, investment funds, exchange-traded funds, insurance and retirement products. It serves individual investors, businesses, institutional clients and independent financial advisors.

The company’s principal brands and businesses include XP, Rico and Clear, which provide brokerage and investment services to different customer segments.