PICS (NASDAQ:PICS) Stock Has Average Target Price of $22.50

PICS (NASDAQ:PICS) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $22.50.

PICS has been the subject of several analyst reports. Royal Bank Of Canada lowered their price objective on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, August 25th. Wall Street Zen upgraded PICS from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Mizuho dropped their price objective on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, August 26th. Zacks Research downgraded PICS from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Finally, Weiss Ratings raised PICS from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd.

PICS Price Performance

Shares of NASDAQ PICS opened at $7.10 on Friday. The company has a market capitalization of $757.78 million and a P/E ratio of 8.07. The company has a 50 day simple moving average of $10.70 and a 200-day simple moving average of $11.79. PICS has a 1 year low of $7.05 and a 1 year high of $19.95.

Hedge Funds Weigh In On PICS

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd acquired a new position in PICS during the 2nd quarter worth approximately $3,986,000. Whetstone Capital Advisors LLC purchased a new stake in shares of PICS in the 2nd quarter valued at approximately $2,189,000. Readystate Asset Management LP acquired a new stake in shares of PICS in the 2nd quarter valued at $744,000. State of Wyoming raised its holdings in shares of PICS by 23.1% in the 3rd quarter. State of Wyoming now owns 25,322 shares of the company’s stock valued at $215,000 after purchasing an additional 4,748 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of PICS in the 3rd quarter valued at $180,000.

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.