StoneCo Ltd. (NASDAQ:STNE) Receives $18.45 Average PT from Brokerages

Shares of StoneCo Ltd. (NASDAQ:STNE) have been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.64.

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of StoneCo from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $12.00 to $21.00 in a report on Monday, January 22nd. Bank of America upped their price objective on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, December 11th. UBS Group downgraded shares of StoneCo from a “buy” rating to a “neutral” rating and upped their price objective for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Barclays upped their price target on StoneCo from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Finally, Citigroup upped their price target on StoneCo from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday.

StoneCo Stock Performance

NASDAQ:STNE opened at $16.77 on Tuesday. The company has a fifty day moving average of $17.22 and a 200-day moving average of $14.58. The firm has a market capitalization of $5.27 billion, a P/E ratio of 16.60 and a beta of 2.37. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.25. StoneCo has a twelve month low of $8.63 and a twelve month high of $19.46.

Institutional Trading of StoneCo

Several hedge funds and other institutional investors have recently bought and sold shares of STNE. BlackRock Inc. boosted its stake in StoneCo by 27.8% in the third quarter. BlackRock Inc. now owns 21,451,911 shares of the company’s stock worth $204,437,000 after buying an additional 4,666,575 shares in the last quarter. Norges Bank purchased a new stake in shares of StoneCo during the fourth quarter valued at approximately $58,777,000. Renaissance Technologies LLC purchased a new stake in shares of StoneCo during the first quarter valued at approximately $35,504,000. Nuveen Asset Management LLC purchased a new stake in shares of StoneCo during the fourth quarter valued at approximately $36,887,000. Finally, State Street Corp boosted its stake in shares of StoneCo by 85.9% during the second quarter. State Street Corp now owns 4,404,305 shares of the company’s stock valued at $33,913,000 after purchasing an additional 2,034,974 shares during the period. Hedge funds and other institutional investors own 77.54% of the company’s stock.

About StoneCo

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.