StoneCo (NASDAQ:STNE) Price Target Cut to $15.00 by Analysts at JPMorgan Chase & Co.

StoneCo (NASDAQ:STNE) had its target price reduced by JPMorgan Chase & Co. from $21.00 to $15.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 72.22% from the company’s current price.

A number of other brokerages have also weighed in on STNE. Susquehanna reduced their price target on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research note on Wednesday, November 13th. Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Morgan Stanley reissued an “underweight” rating and issued a $7.00 price target (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. Barclays dropped their price objective on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Finally, UBS Group raised their target price on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.13.

StoneCo Stock Performance

Shares of NASDAQ STNE opened at $8.71 on Monday. The company has a 50-day simple moving average of $10.40 and a 200-day simple moving average of $11.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $2.69 billion, a PE ratio of 6.80, a price-to-earnings-growth ratio of 0.35 and a beta of 2.21. StoneCo has a 12 month low of $8.64 and a 12 month high of $19.46.

Institutional Trading of StoneCo

A number of institutional investors have recently modified their holdings of STNE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in StoneCo in the third quarter valued at approximately $9,091,000. GSA Capital Partners LLP acquired a new stake in shares of StoneCo in the third quarter worth $716,000. BNP Paribas Financial Markets raised its stake in shares of StoneCo by 313.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 472,758 shares of the company’s stock valued at $5,323,000 after acquiring an additional 358,398 shares during the period. State Street Corp lifted its holdings in shares of StoneCo by 51.0% during the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company’s stock valued at $89,765,000 after acquiring an additional 2,692,558 shares in the last quarter. Finally, Citigroup Inc. boosted its position in StoneCo by 584.9% during the 3rd quarter. Citigroup Inc. now owns 1,339,972 shares of the company’s stock worth $15,088,000 after purchasing an additional 1,144,341 shares during the period. Hedge funds and other institutional investors own 73.19% 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.