PICS (NASDAQ:PICS) Stock Lifted to Buy by Wall Street Zen

Wall Street Zen upgraded shares of PICS (NASDAQ:PICS) from a hold rating to a buy rating in a research note released on Sunday morning,Wall Street Zen reports.

Several other research firms have also weighed in on PICS. Weiss Ratings raised PICS from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Zacks Research downgraded PICS from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 18th. Mizuho lowered their target price on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, August 26th. Finally, Royal Bank Of Canada dropped their target price on shares of PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

PICS Stock Performance

PICS stock opened at $13.60 on Friday. PICS has a 52 week low of $8.08 and a 52 week high of $19.95. The stock has a market capitalization of $1.45 billion and a P/E ratio of 15.45. The stock has a fifty day moving average of $10.67 and a 200-day moving average of $11.14.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Whetstone Capital Advisors LLC bought a new position in shares of PICS in the 2nd quarter valued at $2,189,000. BlueCrest Capital Management Ltd acquired a new stake in shares of PICS during the 2nd quarter valued at $3,986,000. Finally, Readystate Asset Management LP bought a new stake in PICS during the 2nd quarter worth $744,000.

About PICS

PicS N.V. operates as a digital financial services company which provides digital wallet and application for individuals and businesses principally in Brazil. It offers a range of transactional products for its consumers, including Pix, an instant payment system, peer-to-peer between PicPay accounts, bill payments, payroll portability, global account and a payment assistant. PicS N.V., formerly known as Picpay Holdings Netherlands B.V., is based in S?o Paulo, Brazil.