StoneCo (NASDAQ:STNE) Posts Earnings Results, Beats Estimates By $0.02 EPS

StoneCo (NASDAQ:STNE – Get Rating) posted its quarterly earnings data on Tuesday. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02, reports. The company had revenue of $514.25 million for the quarter, compared to the consensus estimate of $383.41 million. StoneCo had a negative net margin of 5.76% and a positive return on equity of 3.73%. StoneCo updated its Q1 2023 guidance to EPS.

StoneCo Price Performance

NASDAQ STNE opened at $9.41 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $9.69 and a two-hundred day moving average of $9.95. StoneCo has a 52 week low of $6.81 and a 52 week high of $15.01.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in StoneCo during the second quarter worth $291,000. Echo Street Capital Management LLC purchased a new position in StoneCo during the second quarter worth $97,000. Baillie Gifford & Co. boosted its stake in StoneCo by 2.5% during the third quarter. Baillie Gifford & Co. now owns 1,443,026 shares of the company’s stock worth $13,752,000 after buying an additional 34,884 shares during the period. Renaissance Technologies LLC purchased a new position in StoneCo during the third quarter worth $14,634,000. Finally, Indus Capital Partners LLC purchased a new position in StoneCo during the second quarter worth $1,649,000. 59.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STNE has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of StoneCo from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Evercore ISI upgraded shares of StoneCo from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $10.00 to $16.00 in a research report on Monday, November 28th. Morgan Stanley cut shares of StoneCo from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $17.00 to $15.00 in a research report on Tuesday, December 6th. The Goldman Sachs Group raised shares of StoneCo from a “sell” rating to a “neutral” rating and raised their target price for the company from $7.50 to $11.00 in a report on Thursday, December 1st. Finally, Grupo Santander raised shares of StoneCo from an “underperform” rating to a “neutral” rating in a report on Wednesday, December 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.38.

About StoneCo

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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. The firm offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.