Barclays Has Lowered Expectations for StoneCo (NASDAQ:STNE) Stock Price

StoneCo (NASDAQ:STNE) had its price objective dropped by research analysts at Barclays from $13.00 to $12.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 22.95% from the company’s current price.

A number of other brokerages have also commented on STNE. UBS Group boosted their price objective on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Morgan Stanley restated an “underweight” rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Susquehanna reduced their target price 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, Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.89.

StoneCo Price Performance

Shares of STNE remained flat at $9.76 during mid-day trading on Monday. 1,359,413 shares of the stock were exchanged, compared to its average volume of 5,120,760. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of 0.34 and a beta of 2.29. The firm has a 50-day moving average of $11.27 and a two-hundred day moving average of $12.70. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.47. StoneCo has a 12 month low of $9.61 and a 12 month high of $19.46.

Institutional Investors Weigh In On StoneCo

Hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. increased its holdings in shares of StoneCo by 36.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock valued at $128,617,000 after purchasing an additional 3,035,530 shares during the period. State Street Corp increased its stake in StoneCo by 51.0% in the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company’s stock valued at $89,765,000 after buying an additional 2,692,558 shares during the period. Marshall Wace LLP boosted its stake in shares of StoneCo by 204.1% during the 2nd quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock valued at $92,823,000 after buying an additional 5,195,787 shares during the period. Geode Capital Management LLC boosted its stake in shares of StoneCo by 36.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company’s stock valued at $58,302,000 after buying an additional 1,374,788 shares during the period. Finally, Coronation Fund Managers Ltd. grew its holdings in shares of StoneCo by 43.4% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company’s stock valued at $41,363,000 after acquiring an additional 1,111,065 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.