Brokerages Set $30.00 Price Target for StoneCo Ltd (STNE)

Shares of StoneCo Ltd (NASDAQ:STNE) have earned an average broker rating score of 2.17 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.

Brokerages have set a twelve-month consensus price target of $30.00 for the company and are expecting that the company will post $0.11 earnings per share for the current quarter, according to Zacks. Zacks has also assigned StoneCo an industry rank of 32 out of 257 based on the ratings given to its competitors.

Several brokerages have recently commented on STNE. JPMorgan Chase & Co. began coverage on StoneCo in a research note on Monday, November 19th. They set a “neutral” rating and a $25.00 price target on the stock. Goldman Sachs Group began coverage on StoneCo in a research note on Monday, November 19th. They set a “neutral” rating and a $25.60 price target on the stock. Finally, Citigroup began coverage on StoneCo in a research note on Monday, November 19th. They set a “buy” rating and a $30.00 price target on the stock.

Shares of NASDAQ:STNE opened at $21.84 on Wednesday. StoneCo has a 12 month low of $20.05 and a 12 month high of $32.50.

StoneCo Company Profile

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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