StoneCo (NASDAQ:STNE) Receives Neutral Rating from Citigroup

Citigroup reiterated their neutral rating on shares of StoneCo (NASDAQ:STNE) in a research report released on Thursday, MarketBeat reports. They currently have a $9.00 price target on the stock, down from their previous price target of $19.00.

Other research analysts also recently issued reports about the stock. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Barclays lowered their price target on StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Susquehanna reduced their price objective on StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. decreased their price objective on StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.75.

StoneCo Stock Performance

Shares of STNE opened at $8.42 on Thursday. The company’s 50 day simple moving average is $9.06 and its 200-day simple moving average is $11.16. The firm has a market cap of $2.60 billion, a PE ratio of 6.58, a price-to-earnings-growth ratio of 0.30 and a beta of 2.23. StoneCo has a 12-month low of $7.72 and a 12-month high of $19.46. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47.

Hedge Funds Weigh In On StoneCo

A number of large investors have recently modified their holdings of STNE. Thrivent Financial for Lutherans grew its holdings in StoneCo by 9.8% during the third quarter. Thrivent Financial for Lutherans now owns 19,877 shares of the company’s stock worth $224,000 after acquiring an additional 1,773 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in StoneCo by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 123,275 shares of the company’s stock valued at $1,478,000 after acquiring an additional 1,848 shares during the period. Atria Investments Inc boosted its position in shares of StoneCo by 19.0% during the 3rd quarter. Atria Investments Inc now owns 20,258 shares of the company’s stock worth $228,000 after purchasing an additional 3,241 shares in the last quarter. Koa Wealth Management LLC grew its stake in shares of StoneCo by 2.1% during the 3rd quarter. Koa Wealth Management LLC now owns 160,709 shares of the company’s stock worth $1,810,000 after purchasing an additional 3,289 shares during the period. Finally, Covestor Ltd increased its holdings in shares of StoneCo by 40.9% in the 3rd quarter. Covestor Ltd now owns 13,350 shares of the company’s stock valued at $150,000 after purchasing an additional 3,878 shares in the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.

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.