BidaskClub Upgrades StoneCo (NASDAQ:STNE) to Strong-Buy

BidaskClub upgraded shares of StoneCo (NASDAQ:STNE) from a buy rating to a strong-buy rating in a report published on Friday morning, BidAskClub reports.

A number of other equities research analysts have also weighed in on STNE. Citigroup started coverage on StoneCo in a research report on Friday, August 14th. They issued a buy rating and a $58.00 price objective on the stock. Evercore ISI upgraded StoneCo from an in-line rating to an outperform rating in a research report on Thursday, August 13th. Guggenheim lifted their price objective on StoneCo from $40.00 to $45.00 and gave the stock a buy rating in a research report on Thursday, June 4th. Goldman Sachs Group lifted their price objective on StoneCo from $32.00 to $52.00 and gave the stock a buy rating in a research report on Monday, July 27th. They noted that the move was a valuation call. Finally, Bradesco Corretora lowered StoneCo from a neutral rating to an underperform rating and set a $42.00 price objective on the stock. in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $45.82.

Shares of StoneCo stock opened at $51.41 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.57. The business’s 50 day simple moving average is $50.29 and its two-hundred day simple moving average is $36.52. The stock has a market capitalization of $14.26 billion, a P/E ratio of 82.92 and a beta of 2.35. StoneCo has a one year low of $17.72 and a one year high of $55.43.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.10. The business had revenue of $124.39 million for the quarter, compared to analysts’ expectations of $97.86 million. StoneCo had a return on equity of 12.30% and a net margin of 26.52%. Sell-side analysts expect that StoneCo will post 0.53 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in StoneCo by 39.6% during the first quarter. BlackRock Inc. now owns 1,918,848 shares of the company’s stock valued at $41,772,000 after buying an additional 544,188 shares during the last quarter. Royal Bank of Canada raised its stake in StoneCo by 66.2% during the first quarter. Royal Bank of Canada now owns 87,685 shares of the company’s stock valued at $1,909,000 after buying an additional 34,940 shares during the last quarter. Manning & Napier Group LLC purchased a new position in StoneCo during the second quarter valued at $7,844,000. Bank of New York Mellon Corp raised its stake in StoneCo by 44.2% during the first quarter. Bank of New York Mellon Corp now owns 48,720 shares of the company’s stock valued at $1,061,000 after buying an additional 14,943 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in StoneCo by 410.8% during the first quarter. Legal & General Group Plc now owns 40,011 shares of the company’s stock valued at $871,000 after buying an additional 32,178 shares during the last quarter. Institutional investors and hedge funds own 49.56% of the company’s stock.

StoneCo Company Profile

StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.

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Analyst Recommendations for StoneCo (NASDAQ:STNE)

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