StoneCo’s (STNE) Neutral Rating Reiterated at Citigroup

StoneCo (NASDAQ:STNE)‘s stock had its “neutral” rating reissued by stock analysts at Citigroup in a report released on Thursday,Benzinga reports. They currently have a $9.00 target price on the stock, down from their previous target price of $19.00. Citigroup’s price target points to a potential upside of 2.97% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a report on Thursday, October 3rd. Barclays dropped their price objective on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Susquehanna decreased their target price 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. Finally, JPMorgan Chase & Co. dropped their price target 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.75.

StoneCo Price Performance

Shares of StoneCo stock opened at $8.74 on Thursday. The firm has a market cap of $2.70 billion, a PE ratio of 6.83, a PEG ratio of 0.30 and a beta of 2.23. The stock has a 50 day moving average of $9.17 and a 200 day moving average of $11.20. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo has a 12 month low of $7.72 and a 12 month high of $19.46.

Hedge Funds Weigh In On StoneCo

Large investors have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in StoneCo in the third quarter worth about $125,000. Point72 Hong Kong Ltd purchased a new stake in shares of StoneCo in the second quarter worth approximately $135,000. Covestor Ltd raised its holdings in shares of StoneCo by 40.9% in the third quarter. Covestor Ltd now owns 13,350 shares of the company’s stock worth $150,000 after buying an additional 3,878 shares during the period. XTX Topco Ltd bought a new stake in shares of StoneCo during the 3rd quarter worth approximately $167,000. Finally, Sanctuary Advisors LLC purchased a new position in StoneCo during the 3rd quarter valued at $156,000. 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.