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.
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
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.
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