StoneCo (NASDAQ:STNE) Shares Gap Down to $34.26

StoneCo Ltd (NASDAQ:STNE) gapped down before the market opened on Tuesday . The stock had previously closed at $33.32, but opened at $34.26. StoneCo shares last traded at $34.72, with a volume of 1,071,426 shares.

Several research analysts have recently commented on the company. HSBC assumed coverage on StoneCo in a report on Tuesday, May 7th. They set a “reduce” rating and a $20.00 price target on the stock. Cantor Fitzgerald assumed coverage on StoneCo in a report on Friday, June 28th. They set an “overweight” rating and a $33.00 price target on the stock. Citigroup set a $27.00 price target on StoneCo and gave the stock a “hold” rating in a report on Friday, May 31st. Susquehanna Bancshares started coverage on StoneCo in a report on Friday, May 31st. They set a “neutral” rating on the stock. Finally, Zacks Investment Research downgraded StoneCo from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.13.

The firm has a 50-day moving average price of $33.14. The firm has a market capitalization of $9.99 billion and a PE ratio of 105.76.



StoneCo (NASDAQ:STNE) last issued its quarterly earnings data on Monday, May 13th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $142.17 million for the quarter. Equities analysts predict that StoneCo Ltd will post 0.79 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. Focused Wealth Management Inc acquired a new position in StoneCo in the 2nd quarter valued at about $30,000. US Bancorp DE acquired a new position in StoneCo in the 2nd quarter valued at about $36,000. Kwmg LLC acquired a new position in StoneCo in the 1st quarter valued at about $45,000. Tower Research Capital LLC TRC grew its position in StoneCo by 109.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,214 shares of the company’s stock valued at $65,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Parisi Gray Wealth Management acquired a new position in StoneCo in the 1st quarter valued at about $102,000. 37.49% of the stock is owned by hedge funds and other institutional investors.

About StoneCo (NASDAQ:STNE)

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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