StoneCo (NASDAQ:STNE) Price Target Increased to $11.00 by Analysts at Wells Fargo & Company

StoneCo (NASDAQ:STNE – Get Rating) had its price target upped by Wells Fargo & Company from $10.00 to $11.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group upgraded shares of StoneCo from a sell rating to a neutral rating and boosted their target price for the stock from $7.50 to $11.00 in a report on Thursday, December 1st. Evercore ISI upgraded shares of StoneCo from an in-line rating to an outperform rating and boosted their target price for the stock from $10.00 to $16.00 in a report on Monday, November 28th. Morgan Stanley downgraded shares of StoneCo from an overweight rating to an equal weight rating and reduced their target price for the stock from $17.00 to $15.00 in a report on Tuesday, December 6th. Finally, Grupo Santander upgraded shares of StoneCo from an underperform rating to a neutral rating in a report on Wednesday, December 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, StoneCo has a consensus rating of Hold and an average target price of $15.43.

StoneCo Price Performance

NASDAQ:STNE opened at $8.87 on Wednesday. StoneCo has a 1-year low of $6.81 and a 1-year high of $15.01. The company has a 50-day moving average of $9.69 and a 200 day moving average of $9.94. The company has a quick ratio of 1.27, a current ratio of 1.22 and a debt-to-equity ratio of 0.21.

StoneCo (NASDAQ:STNE – Get Rating) last released its quarterly earnings data on Tuesday, March 14th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. StoneCo had a negative net margin of 5.76% and a positive return on equity of 3.74%. The company had revenue of $514.25 million during the quarter, compared to analyst estimates of $383.41 million. Research analysts anticipate that StoneCo will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On StoneCo

Hedge funds and other institutional investors have recently bought and sold shares of the business. 1832 Asset Management L.P. acquired a new position in StoneCo in the 4th quarter worth approximately $25,000. Signaturefd LLC increased its holdings in StoneCo by 62.7% in the 4th quarter. Signaturefd LLC now owns 3,222 shares of the company’s stock worth $30,000 after buying an additional 1,242 shares during the period. Dark Forest Capital Management LP acquired a new position in StoneCo in the 4th quarter worth approximately $32,000. Belpointe Asset Management LLC acquired a new position in StoneCo in the 4th quarter worth approximately $49,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in StoneCo in the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 59.80% of the company’s stock.

StoneCo Company Profile

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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. The firm offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.