StoneCo (NASDAQ:STNE)‘s stock had its “overweight” rating reiterated by investment analysts at Morgan Stanley in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $47.00 target price on the stock, up from their previous target price of $35.00. Morgan Stanley’s target price points to a potential upside of 9.43% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Bank of America started coverage on StoneCo in a research note on Monday, January 14th. They set a “buy” rating and a $26.00 price target on the stock. Zacks Investment Research upgraded StoneCo from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, February 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $32.27.
STNE opened at $42.95 on Thursday. StoneCo has a one year low of $16.14 and a one year high of $44.21. The stock has a market capitalization of $10.47 billion and a PE ratio of 130.15.
StoneCo (NASDAQ:STNE) last released its quarterly earnings data on Monday, March 18th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $139.04 million during the quarter, compared to analysts’ expectations of $116.87 million. As a group, sell-side analysts forecast that StoneCo will post 0.84 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in STNE. Foxhaven Asset Management LP purchased a new position in StoneCo during the 4th quarter worth approximately $24,360,000. Norges Bank purchased a new position in StoneCo during the 4th quarter worth approximately $16,539,000. Apoletto Ltd purchased a new position in StoneCo during the 4th quarter worth approximately $12,727,000. Pelham Global Financials Ltd. purchased a new position in StoneCo during the 4th quarter worth approximately $12,154,000. Finally, BlackRock Inc. purchased a new position in StoneCo during the 4th quarter worth approximately $11,810,000. Hedge funds and other institutional investors own 32.94% of the company’s stock.
StoneCo Ltd. provides financial technology solutions that empower 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 technology and solutions to digital merchants through sales and technical personnel and software vendors.
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