StoneCo (NASDAQ:STNE) Shares Gap Up – Here’s What Happened

by · The Markets Daily

Shares of StoneCo Ltd. (NASDAQ:STNE – Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $14.14, but opened at $14.59. StoneCo shares last traded at $15.12, with a volume of 813,024 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of StoneCo from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StoneCo in a research report on Wednesday, October 8th. Zacks Research lowered shares of StoneCo from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Bank of America raised their price target on StoneCo from $15.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Finally, The Goldman Sachs Group raised their target price on shares of StoneCo from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.21.

Get Our Latest Stock Report on STNE

StoneCo Stock Up 5.3%

The business’s fifty day moving average is $16.74 and its two-hundred day moving average is $16.17. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.72. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -27.56, a PEG ratio of 0.29 and a beta of 1.85.

StoneCo (NASDAQ:STNE – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. StoneCo had a negative net margin of 7.28% and a positive return on equity of 20.18%. The business had revenue of $669.49 million for the quarter, compared to analyst estimates of $669.81 million. Equities analysts forecast that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On StoneCo

Large investors have recently modified their holdings of the company. Invesco Ltd. boosted its holdings in StoneCo by 11.4% in the first quarter. Invesco Ltd. now owns 236,419 shares of the company’s stock worth $2,478,000 after purchasing an additional 24,163 shares during the period. Zuckerman Investment Group LLC acquired a new stake in StoneCo during the 1st quarter worth about $272,000. Canada Pension Plan Investment Board raised its position in StoneCo by 32,745.3% during the first quarter. Canada Pension Plan Investment Board now owns 649,680 shares of the company’s stock valued at $6,809,000 after buying an additional 647,702 shares during the period. Vident Advisory LLC purchased a new stake in shares of StoneCo in the first quarter worth approximately $223,000. Finally, Azora Capital LP grew its holdings in shares of StoneCo by 15.9% during the 1st quarter. Azora Capital LP now owns 2,583,510 shares of the company’s stock valued at $27,075,000 after acquiring an additional 355,192 shares in the last quarter. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

About StoneCo

(Get Free Report)

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.

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