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.
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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