StoneCo (NASDAQ:STNE) Now Covered by Analysts at BTIG Research

Research analysts at BTIG Research started coverage on shares of StoneCo (NASDAQ:STNE) in a note issued to investors on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $22.00 price target on the stock. BTIG Research’s price target suggests a potential upside of 22.29% from the stock’s current price.

Several other brokerages have also recently issued reports on STNE. The Goldman Sachs Group lowered their target price on shares of StoneCo from $22.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. Santander cut shares of StoneCo from an “outperform” rating to a “neutral” rating in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StoneCo in a report on Thursday, January 22nd. UBS Group cut their target price on StoneCo from $20.00 to $19.50 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Finally, Wall Street Zen cut StoneCo from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.50.

StoneCo Stock Up 5.3%

Shares of NASDAQ:STNE opened at $17.99 on Monday. The firm’s 50 day moving average price is $15.32 and its 200 day moving average price is $16.29. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of -33.31, a price-to-earnings-growth ratio of 0.30 and a beta of 1.81. StoneCo has a fifty-two week low of $8.64 and a fifty-two week high of $19.95. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.72.

Institutional Investors Weigh In On StoneCo

A number of hedge funds and other institutional investors have recently modified their holdings of STNE. Tekne Capital Management LLC acquired a new stake in shares of StoneCo during the second quarter worth $35,288,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in StoneCo in the second quarter valued at $574,000. Ninety One UK Ltd lifted its position in StoneCo by 218.4% during the third quarter. Ninety One UK Ltd now owns 4,234,251 shares of the company’s stock worth $80,070,000 after buying an additional 2,904,432 shares during the period. Alta Wealth Advisors LLC acquired a new stake in StoneCo in the 3rd quarter worth about $1,631,000. Finally, Fox Run Management L.L.C. grew its holdings in StoneCo by 72.5% in the 2nd quarter. Fox Run Management L.L.C. now owns 51,420 shares of the company’s stock valued at $825,000 after buying an additional 21,604 shares during the period. 73.19% of the stock is currently owned by institutional investors and hedge funds.

StoneCo Company Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.