Evercore ISI Trims StoneCo (NASDAQ:STNE) Target Price to $23.00

StoneCo (NASDAQ:STNE) had its target price trimmed by Evercore ISI from $25.00 to $23.00 in a report published on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently commented on STNE. Citigroup boosted their price target on shares of StoneCo from $19.00 to $20.00 and gave the company a buy rating in a report on Wednesday, March 20th. Susquehanna reduced their price target on StoneCo from $23.00 to $22.00 and set a positive rating for the company in a report on Friday, April 19th. Barclays dropped their price objective on StoneCo from $17.00 to $16.00 and set an equal weight rating on the stock in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. raised shares of StoneCo from a neutral rating to an overweight rating and set a $20.00 target price for the company in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, StoneCo has a consensus rating of Moderate Buy and an average target price of $19.56.

StoneCo Trading Down 0.7 %

Shares of NASDAQ STNE opened at $11.99 on Tuesday. The firm has a market capitalization of $3.77 billion, a PE ratio of 10.80, a PEG ratio of 0.31 and a beta of 2.36. StoneCo has a one year low of $9.34 and a one year high of $19.46. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $14.23 and a two-hundred day moving average price of $16.08.

StoneCo (NASDAQ:STNE) last posted its quarterly earnings results on Monday, May 13th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $623.12 million during the quarter, compared to analysts’ expectations of $633.35 million. StoneCo had a net margin of 14.08% and a return on equity of 12.35%. As a group, analysts predict that StoneCo will post 1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On StoneCo

A number of institutional investors have recently made changes to their positions in STNE. McGlone Suttner Wealth Management Inc. bought a new position in StoneCo in the 4th quarter worth approximately $26,000. USA Financial Formulas acquired a new position in StoneCo during the 4th quarter valued at $26,000. Lazard Asset Management LLC bought a new stake in StoneCo in the 1st quarter valued at $41,000. Headlands Technologies LLC acquired a new stake in StoneCo in the 4th quarter worth $56,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of StoneCo by 152.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock worth $58,000 after purchasing an additional 2,110 shares during the period. 73.19% of the stock is currently owned by institutional investors.

StoneCo Company Profile

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.