Barclays Lowers StoneCo (NASDAQ:STNE) Price Target to $10.00

StoneCo (NASDAQ:STNE - Get Free Report) had its price target dropped by equities research analysts at Barclays from $12.00 to $10.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's target price indicates a potential upside of 12.74% from the company's current price.

A number of other research firms have also recently weighed in on STNE. Cantor Fitzgerald raised shares of StoneCo to a "strong-buy" rating in a research note on Thursday, October 3rd. Susquehanna dropped their target price on StoneCo from $22.00 to $19.00 and set a "positive" rating for the company in a report on Wednesday, November 13th. Citigroup reaffirmed a "neutral" rating and issued a $9.00 price target (down previously from $19.00) on shares of StoneCo in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their price target on StoneCo from $21.00 to $15.00 and set an "overweight" rating on the stock in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, StoneCo has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.

StoneCo Stock Performance

Shares of NASDAQ STNE traded up $0.03 during trading hours on Wednesday, reaching $8.87. The stock had a trading volume of 4,773,184 shares, compared to its average volume of 4,992,803. StoneCo has a twelve month low of $7.72 and a twelve month high of $19.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. The business's fifty day moving average is $8.77 and its two-hundred day moving average is $10.91. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 6.93, a PEG ratio of 0.34 and a beta of 2.23.

Institutional Investors Weigh In On StoneCo

Several hedge funds and other institutional investors have recently made changes to their positions in STNE. Point72 Asset Management L.P. increased its position in StoneCo by 36.2% in the third quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company's stock worth $128,617,000 after purchasing an additional 3,035,530 shares during the period. Truxt Investmentos Ltda. bought a new position in shares of StoneCo in the 3rd quarter valued at about $31,695,000. State Street Corp raised its stake in StoneCo by 51.0% during the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company's stock worth $89,765,000 after buying an additional 2,692,558 shares during the period. Geode Capital Management LLC lifted its holdings in StoneCo by 36.0% during the third quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company's stock worth $58,302,000 after acquiring an additional 1,374,788 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in StoneCo by 327.4% in the third quarter. JPMorgan Chase & Co. now owns 1,580,679 shares of the company's stock valued at $17,798,000 after acquiring an additional 1,210,817 shares during the period. 73.19% of the stock is owned by institutional investors and hedge funds.

About StoneCo

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.