StoneCo (NASDAQ:STNE) Price Target Lowered to $15.00 at JPMorgan Chase & Co.

StoneCo (NASDAQ:STNE - Get Free Report) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $21.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 72.22% from the stock's previous close.

A number of other brokerages also recently commented on STNE. Cantor Fitzgerald upgraded shares of StoneCo to a "strong-buy" rating in a report on Thursday, October 3rd. Barclays dropped their target price on StoneCo from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. UBS Group increased their price target on StoneCo from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Morgan Stanley restated an "underweight" rating and set a $7.00 price objective (down previously from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Finally, Susquehanna lowered their target price on shares of StoneCo from $22.00 to $19.00 and set a "positive" rating for the company in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $16.13.

StoneCo Stock Down 3.4 %

Shares of NASDAQ STNE traded down $0.31 during midday trading on Monday, reaching $8.71. 5,784,162 shares of the company's stock traded hands, compared to its average volume of 5,274,967. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 6.91, a P/E/G ratio of 0.35 and a beta of 2.21. The stock's 50 day simple moving average is $10.50 and its 200-day simple moving average is $11.88. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo has a one year low of $8.70 and a one year high of $19.46.

Institutional Investors Weigh In On StoneCo

A number of hedge funds and other institutional investors have recently made changes to their positions in STNE. Synovus Financial Corp boosted its position in StoneCo by 100.0% during the third quarter. Synovus Financial Corp now owns 29,228 shares of the company's stock worth $329,000 after purchasing an additional 14,614 shares in the last quarter. Tidal Investments LLC acquired a new stake in StoneCo during the 3rd quarter worth $567,000. Sanctuary Advisors LLC acquired a new stake in shares of StoneCo in the third quarter valued at approximately $156,000. Invst LLC grew its holdings in StoneCo by 43.1% in the 3rd quarter. Invst LLC now owns 32,759 shares of the company's stock valued at $369,000 after buying an additional 9,867 shares in the last quarter. Finally, Geode Capital Management LLC increased its position 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 purchasing an additional 1,374,788 shares during the last quarter. Institutional investors and hedge funds own 73.19% of the company's stock.

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.