JPMorgan Chase & Co. Cuts PagSeguro Digital (NYSE:PAGS) Price Target to $11.00

PagSeguro Digital (NYSE:PAGS) had its price target reduced by JPMorgan Chase & Co. from $16.00 to $11.00 in a research report sent to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

PAGS has been the subject of several other reports. Barclays dropped their target price on PagSeguro Digital from $16.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. Cantor Fitzgerald raised PagSeguro Digital to a “strong-buy” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group decreased their target price on shares of PagSeguro Digital from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Morgan Stanley reissued an “underweight” rating and set a $6.50 price target (down previously from $14.00) on shares of PagSeguro Digital in a research report on Thursday, September 5th. Finally, Bank of America reissued a “neutral” rating on shares of PagSeguro Digital in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.00.

PagSeguro Digital Stock Down 8.1 %

NYSE PAGS opened at $6.22 on Monday. The company has a 50-day simple moving average of $7.86 and a two-hundred day simple moving average of $10.12. PagSeguro Digital has a 12-month low of $6.18 and a 12-month high of $14.98. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 0.44 and a beta of 1.92.

Hedge Funds Weigh In On PagSeguro Digital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its position in PagSeguro Digital by 26.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,716 shares of the company’s stock valued at $79,000 after acquiring an additional 1,421 shares in the last quarter. Y.D. More Investments Ltd grew its stake in PagSeguro Digital by 82.5% in the second quarter. Y.D. More Investments Ltd now owns 3,983 shares of the company’s stock worth $47,000 after purchasing an additional 1,800 shares during the period. Truvestments Capital LLC grew its stake in PagSeguro Digital by 9.9% in the third quarter. Truvestments Capital LLC now owns 21,410 shares of the company’s stock worth $184,000 after purchasing an additional 1,923 shares during the period. Los Angeles Capital Management LLC raised its holdings in PagSeguro Digital by 1.9% in the second quarter. Los Angeles Capital Management LLC now owns 110,951 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,083 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its position in PagSeguro Digital by 34.6% during the third quarter. Point72 Hong Kong Ltd now owns 10,767 shares of the company’s stock valued at $93,000 after buying an additional 2,767 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.