StoneCo (NASDAQ:STNE) Shares Gap Up to $30.52

StoneCo Ltd (NASDAQ:STNE)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $29.48, but opened at $30.52. StoneCo shares last traded at $31.70, with a volume of 2,419,706 shares changing hands.

STNE has been the subject of several recent analyst reports. HSBC initiated coverage on shares of StoneCo in a research note on Tuesday, May 7th. They issued a “reduce” rating and a $20.00 target price for the company. Goldman Sachs Group initiated coverage on shares of StoneCo in a research note on Monday, June 10th. They issued a “buy” rating and a $37.00 target price for the company. Bank of America reaffirmed a “buy” rating and issued a $42.00 target price on shares of StoneCo in a research note on Thursday. Citigroup set a $27.00 target price on shares of StoneCo and gave the company a “hold” rating in a research note on Friday, May 31st. Finally, Credit Suisse Group raised shares of StoneCo from a “neutral” rating to an “outperform” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $34.88.

The company’s 50-day moving average price is $33.35 and its 200-day moving average price is $30.40. The company has a market cap of $9.67 billion and a P/E ratio of 96.06.



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 the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The company had revenue of $142.17 million for the quarter. On average, analysts predict that StoneCo Ltd will post 0.79 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of STNE. Focused Wealth Management Inc bought a new stake in shares of StoneCo during the second quarter worth $30,000. US Bancorp DE bought a new stake in shares of StoneCo during the second quarter worth $36,000. Kwmg LLC bought a new stake in shares of StoneCo during the first quarter worth $45,000. Tower Research Capital LLC TRC increased its position in shares of StoneCo by 109.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,214 shares of the company’s stock worth $65,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Parisi Gray Wealth Management bought a new position in StoneCo in the first quarter valued at $102,000. 37.49% of the stock is owned by 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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