StoneCo (NASDAQ:STNE) Price Target Cut to $14.00 by Analysts at The Goldman Sachs Group

StoneCo (NASDAQ:STNE) had its price target cut by The Goldman Sachs Group from $16.00 to $14.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Citigroup reaffirmed a “neutral” rating and issued a $9.00 price objective (down previously from $19.00) on shares of StoneCo in a research note on Thursday, January 16th. Susquehanna decreased their price target on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut 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. Finally, Barclays decreased their target price on StoneCo from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.38.

StoneCo Price Performance

NASDAQ:STNE opened at $9.22 on Thursday. 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 business’s 50-day moving average price is $8.63 and its 200 day moving average price is $10.75. StoneCo has a 52-week low of $7.72 and a 52-week high of $19.46. The firm has a market cap of $2.85 billion, a P/E ratio of 7.20, a PEG ratio of 0.37 and a beta of 2.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its position in StoneCo by 36.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock worth $128,617,000 after buying an additional 3,035,530 shares in the last quarter. State Street Corp raised its holdings in shares of StoneCo by 51.0% during the third quarter. State Street Corp now owns 7,972,037 shares of the company’s stock worth $89,765,000 after acquiring an additional 2,692,558 shares in the last quarter. Geode Capital Management LLC boosted 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 valued at $58,302,000 after purchasing an additional 1,374,788 shares during the last quarter. Coronation Fund Managers Ltd. grew its stake in StoneCo by 43.4% in the third quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company’s stock valued at $41,363,000 after purchasing an additional 1,111,065 shares in the last quarter. Finally, Constellation Investimentos e Participacoes Ltda increased its position in StoneCo by 30.0% in the 3rd quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company’s stock worth $34,316,000 after purchasing an additional 703,249 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.