StoneCo (NASDAQ:STNE) Sets New 1-Year Low Following Analyst Downgrade

StoneCo Ltd. (NASDAQ:STNE)’s stock price reached a new 52-week low during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $21.00 to $15.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. StoneCo traded as low as $8.82 and last traded at $8.98, with a volume of 423549 shares. The stock had previously closed at $9.02.

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

Institutional Investors Weigh In On StoneCo

A number of institutional investors have recently bought and sold shares of the business. Koa Wealth Management LLC grew its position in StoneCo by 205.8% during the second quarter. Koa Wealth Management LLC now owns 157,420 shares of the company’s stock valued at $1,887,000 after purchasing an additional 105,943 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its stake in shares of StoneCo by 3.2% during the 2nd quarter. Schwartz Investment Counsel Inc. now owns 276,200 shares of the company’s stock valued at $3,312,000 after buying an additional 8,500 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of StoneCo by 10.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 970,355 shares of the company’s stock valued at $11,635,000 after acquiring an additional 92,122 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of StoneCo in the second quarter worth $153,000. Finally, Principal Financial Group Inc. raised its holdings in shares of StoneCo by 12.3% during the second quarter. Principal Financial Group Inc. now owns 254,449 shares of the company’s stock worth $3,051,000 after acquiring an additional 27,807 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

StoneCo Stock Performance

The company has a fifty day moving average of $10.40 and a 200-day 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 firm has a market capitalization 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 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.