StoneCo (NASDAQ:STNE) Shares Gap Up – What’s Next?

StoneCo Ltd. (NASDAQ:STNE)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $9.85, but opened at $10.86. StoneCo shares last traded at $11.32, with a volume of 4,927,529 shares.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STNE. Barclays dropped their price target on shares of StoneCo from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. The Goldman Sachs Group lowered their price objective on shares of StoneCo from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered their price objective on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Finally, Citigroup reissued a “neutral” rating and set a $9.00 price target (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.38.

StoneCo Stock Up 14.5 %

The firm has a 50-day simple moving average of $9.16 and a 200 day simple moving average of $9.96. The stock has a market capitalization of $3.49 billion, a P/E ratio of 8.85, a P/E/G ratio of 0.41 and a beta of 2.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42.

Hedge Funds Weigh In On StoneCo

Large investors have recently modified their holdings of the business. Jones Financial Companies Lllp raised its position in StoneCo by 254.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company’s stock worth $34,000 after purchasing an additional 3,056 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of StoneCo by 627.0% during the fourth quarter. Sterling Capital Management LLC now owns 4,551 shares of the company’s stock worth $36,000 after acquiring an additional 3,925 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of StoneCo by 166.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,400 shares of the company’s stock worth $51,000 after acquiring an additional 4,000 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of StoneCo during the fourth quarter worth about $56,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of StoneCo by 31.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 7,500 shares of the company’s stock worth $59,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors 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.