StoneCo (NASDAQ:STNE) Stock Price Down 3.1%

StoneCo Ltd. (NASDAQ:STNE)’s stock price dropped 3.1% during mid-day trading on Wednesday . The company traded as low as $12.62 and last traded at $12.70. Approximately 1,072,475 shares were traded during trading, a decline of 80% from the average daily volume of 5,473,496 shares. The stock had previously closed at $13.11.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on STNE shares. Barclays dropped their target price on StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Evercore ISI cut their price objective on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. JPMorgan Chase & Co. upgraded shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Thursday, June 6th. UBS Group raised their target price on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group lowered their price target on StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, StoneCo currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.80.

StoneCo Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market capitalization of $3.56 billion, a PE ratio of 10.39, a P/E/G ratio of 0.47 and a beta of 2.31. The firm has a fifty day moving average price of $13.12 and a 200 day moving average price of $14.60.

StoneCo (NASDAQ:STNE) last released its earnings results on Wednesday, August 14th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.04). The firm had revenue of $615.13 million during the quarter, compared to analysts’ expectations of $590.74 million. StoneCo had a return on equity of 13.21% and a net margin of 15.27%. Research analysts anticipate that StoneCo Ltd. will post 1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On StoneCo

Institutional investors have recently modified their holdings of the stock. USA Financial Formulas acquired a new stake in StoneCo during the fourth quarter valued at $26,000. Central Bank & Trust Co. bought a new stake in shares of StoneCo in the 2nd quarter valued at approximately $40,000. Lazard Asset Management LLC acquired a new position in StoneCo in the first quarter worth approximately $41,000. Benjamin F. Edwards & Company Inc. raised its position in StoneCo by 152.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock valued at $58,000 after acquiring an additional 2,110 shares in the last quarter. Finally, Y.D. More Investments Ltd lifted its stake in StoneCo by 90.2% in the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after acquiring an additional 2,275 shares during the last quarter. Institutional investors and hedge funds 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.