PagSeguro Digital (NYSE:PAGS) Shares Gap Up to $13.92

Shares of PagSeguro Digital Ltd. (NYSE:PAGS) gapped up prior to trading on Tuesday . The stock had previously closed at $13.92, but opened at $14.39. PagSeguro Digital shares last traded at $14.66, with a volume of 746,643 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PAGS shares. New Street Research upgraded PagSeguro Digital from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $18.00 in a report on Monday, March 18th. The Goldman Sachs Group raised PagSeguro Digital from a “sell” rating to a “neutral” rating and raised their price objective for the company from $7.40 to $13.80 in a research note on Monday, January 22nd. Evercore ISI raised PagSeguro Digital from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $18.00 in a research note on Tuesday. Cantor Fitzgerald raised their price objective on PagSeguro Digital from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, Citigroup raised their price objective on PagSeguro Digital from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, PagSeguro Digital currently has an average rating of “Moderate Buy” and a consensus price target of $14.98.

PagSeguro Digital Stock Down 0.7 %

The company has a market cap of $4.73 billion, a PE ratio of 13.94, a PEG ratio of 0.79 and a beta of 1.78. The company has a 50-day moving average of $13.38 and a 200-day moving average of $10.92.

PagSeguro Digital (NYSE:PAGS) last announced its earnings results on Wednesday, February 28th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. PagSeguro Digital had a return on equity of 13.94% and a net margin of 10.37%. The company had revenue of $877.60 million for the quarter, compared to analysts’ expectations of $786.91 million. As a group, equities analysts predict that PagSeguro Digital Ltd. will post 1.28 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PAGS. BlackRock Inc. boosted its position in PagSeguro Digital by 672.4% in the second quarter. BlackRock Inc. now owns 28,839,358 shares of the company’s stock worth $272,244,000 after purchasing an additional 25,105,756 shares during the last quarter. Sylebra Capital LLC purchased a new position in PagSeguro Digital in the third quarter worth $80,028,000. Norges Bank bought a new stake in shares of PagSeguro Digital in the fourth quarter valued at $70,207,000. State Street Corp raised its stake in shares of PagSeguro Digital by 657.3% in the second quarter. State Street Corp now owns 3,429,461 shares of the company’s stock valued at $32,374,000 after buying an additional 2,976,591 shares during the period. Finally, SPX Gestao de Recursos Ltda raised its stake in shares of PagSeguro Digital by 247.4% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 3,759,906 shares of the company’s stock valued at $46,886,000 after buying an additional 2,677,659 shares during the period. Hedge funds and other institutional investors own 45.88% of the company’s stock.

About PagSeguro Digital

PagSeguro Digital Ltd., together with its subsidiaries, provides financial technology solutions and services for consumers, individual entrepreneurs, micro-merchants, and small and medium-sized companies in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, a digital ecosystem that operates as a closed loop where its clients are able to address their primary day to day financial needs, including receiving and spending funds, and managing and growing their businesses; PagBank digital account, which offers payment and banking services through the PagBank mobile app, as well as centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem; and PlugPag, a tool for medium-sized and larger merchants that enables them to connect their point of sale (POS) device directly to their enterprise resource planning software or sales automation system through Bluetooth.