StoneCo (NASDAQ:STNE) Downgraded by ValuEngine to Hold

StoneCo (NASDAQ:STNE) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday, ValuEngine reports.

STNE has been the subject of several other reports. Credit Suisse Group raised shares of StoneCo from a “neutral” rating to an “outperform” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of StoneCo from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $39.00 price objective (up from $33.00) on shares of StoneCo in a research note on Thursday, August 15th. Zacks Investment Research downgraded shares of StoneCo from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Finally, Guggenheim started coverage on shares of StoneCo in a research note on Tuesday, September 3rd. They set a “buy” rating and a $38.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.89.

Shares of NASDAQ:STNE traded up $0.46 during midday trading on Wednesday, hitting $33.95. 860,329 shares of the stock traded hands, compared to its average volume of 2,688,713. The stock has a market capitalization of $9.41 billion and a PE ratio of 102.88. The business’s 50 day moving average is $32.91 and its two-hundred day moving average is $31.93. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. StoneCo has a one year low of $16.14 and a one year high of $45.62.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $149.52 million during the quarter. StoneCo had a net margin of 27.40% and a return on equity of 10.16%. As a group, sell-side analysts forecast that StoneCo will post 0.73 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in StoneCo by 10.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 35,168,221 shares of the company’s stock worth $1,040,276,000 after buying an additional 3,234,024 shares in the last quarter. Invesco Ltd. bought a new position in StoneCo in the second quarter worth about $251,806,000. OppenheimerFunds Inc. raised its stake in StoneCo by 34.6% in the first quarter. OppenheimerFunds Inc. now owns 3,491,865 shares of the company’s stock worth $143,551,000 after buying an additional 897,225 shares in the last quarter. Maverick Capital Ltd. bought a new position in StoneCo in the second quarter worth about $77,364,000. Finally, Bamco Inc. NY raised its stake in StoneCo by 103.6% in the second quarter. Bamco Inc. NY now owns 2,103,266 shares of the company’s stock worth $62,215,000 after buying an additional 1,069,975 shares in the last quarter. 41.93% of the stock is owned by institutional investors.

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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