Citigroup initiated coverage on shares of StoneCo (NASDAQ:STNE) in a research report released on Monday, reports. The firm issued a buy rating and a $30.00 target price on the stock.

Separately, Goldman Sachs Group started coverage on shares of StoneCo in a research report on Monday. They issued a neutral rating and a $25.60 price objective on the stock.

NASDAQ:STNE opened at $22.34 on Monday. StoneCo has a 1-year low of $20.05 and a 1-year high of $32.50.

About StoneCo

StoneCo Ltd. provides financial technology solutions that empower 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 technology and solutions to digital merchants through sales and technical personnel and software vendors.

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