StoneCo (NASDAQ:STNE) Price Target Raised to $6.00 at Morgan Stanley

StoneCo (NASDAQ:STNE - Get Free Report) had its price objective increased by equities researchers at Morgan Stanley from $5.70 to $6.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's price objective indicates a potential downside of 47.32% from the stock's current price.

STNE has been the topic of several other reports. Citigroup reiterated a "neutral" rating and set a $9.00 price target (down from $19.00) on shares of StoneCo in a research report on Thursday, January 16th. Barclays lowered their target price on shares of StoneCo from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of StoneCo from $21.00 to $15.00 and set an "overweight" rating for the company in a research report on Monday, December 16th. The Goldman Sachs Group lowered their price objective on StoneCo from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Finally, Wells Fargo & Company upgraded StoneCo from an "equal weight" rating to an "overweight" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $14.50.

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StoneCo Stock Performance

STNE traded up $0.29 on Friday, hitting $11.39. The company's stock had a trading volume of 2,633,883 shares, compared to its average volume of 5,432,043. StoneCo has a 12 month low of $7.72 and a 12 month high of $17.93. The firm has a market cap of $3.52 billion, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 0.41 and a beta of 2.33. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. The company's 50 day simple moving average is $9.36 and its 200-day simple moving average is $9.92.

StoneCo (NASDAQ:STNE - Get Free Report) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.07. StoneCo had a return on equity of 13.92% and a net margin of 16.02%. The firm had revenue of $582.20 million during the quarter, compared to analyst estimates of $3.59 billion. Analysts forecast that StoneCo will post 1.16 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in StoneCo by 254.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company's stock valued at $34,000 after buying an additional 3,056 shares during the period. Sterling Capital Management LLC increased its holdings in StoneCo by 627.0% during the 4th quarter. Sterling Capital Management LLC now owns 4,551 shares of the company's stock valued at $36,000 after purchasing an additional 3,925 shares during the period. Newbridge Financial Services Group Inc. raised its position in StoneCo by 166.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,400 shares of the company's stock valued at $51,000 after purchasing an additional 4,000 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in StoneCo in the 4th quarter worth approximately $56,000. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of StoneCo by 31.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 7,500 shares of the company's stock worth $59,000 after buying an additional 1,800 shares during the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Company Profile

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.