The Goldman Sachs Group cut shares of StoneCo (NASDAQ:STNE – Get Rating) from a neutral rating to a sell rating in a report published on Tuesday, Marketbeat Ratings reports. The firm currently has $7.80 price target on the stock, down from their previous price target of $9.80.
Several other brokerages have also issued reports on STNE. Susquehanna Bancshares dropped their target price on StoneCo from $28.00 to $20.00 in a research report on Monday, July 11th. Wells Fargo & Company reduced their price objective on shares of StoneCo from $11.00 to $10.00 and set an equal weight rating for the company in a research note on Friday, August 19th. Finally, Susquehanna dropped their price objective on shares of StoneCo from $28.00 to $20.00 in a report on Monday, July 11th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $16.63.
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StoneCo Stock Performance
Shares of STNE opened at $8.74 on Tuesday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -4.99 and a beta of 2.34. StoneCo has a 12 month low of $6.81 and a 12 month high of $44.89. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $9.58 and its two-hundred day simple moving average is $9.90.
StoneCo (NASDAQ:STNE – Get Rating) last announced its earnings results on Thursday, August 18th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.14. The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.20 billion. StoneCo had a negative return on equity of 7.68% and a negative net
margin of 36.63%. StoneCo's revenue for the quarter was up 275.6% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. Research analysts anticipate that StoneCo will post 0.2 earnings per share for the current fiscal year.
Institutional Trading of StoneCo
Several large investors have recently modified their holdings of STNE. National Bank of Canada FI grew its position in shares of StoneCo by 75.8% in the first quarter. National Bank of Canada FI now owns 3,480 shares of the company's stock valued at $41,000 after purchasing an additional 1,500 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of StoneCo by 33.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 6,665 shares of the company's stock valued at $51,000 after purchasing an additional 1,684 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of StoneCo in the 1st quarter valued at about $60,000. AdvisorNet Financial Inc bought a new stake in shares of StoneCo during the 1st quarter valued at about $66,000. Finally, Tortoise Index Solutions LLC grew its position in shares of StoneCo by 13.2% during the 2nd quarter. Tortoise Index Solutions LLC now owns 9,019 shares of the company's stock valued at $69,000 after buying an additional 1,053 shares during the last quarter. 59.69% of the stock is owned by institutional investors and hedge funds.
About StoneCo
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StoneCo Ltd. provides financial technology 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 technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.
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