StoneCo (NASDAQ:STNE) Now Covered by HSBC

Research analysts at HSBC initiated coverage on shares of StoneCo (NASDAQ:STNE) in a research note issued on Tuesday, May 7th, MarketBeat.com reports. The brokerage set a “reduce” rating and a $20.00 price target on the stock. HSBC’s price objective points to a potential downside of 20.63% from the stock’s current price.

Other research analysts also recently issued reports about the company. Bank of America initiated coverage on StoneCo in a research note on Monday, January 14th. They set a “buy” rating and a $26.00 price target on the stock. Citigroup lowered StoneCo from a “buy” rating to a “neutral” rating in a report on Friday, April 5th. Morgan Stanley reissued an “overweight” rating and set a $47.00 price objective (up from $35.00) on shares of StoneCo in a report on Thursday, March 21st. Finally, Zacks Investment Research lowered StoneCo from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. StoneCo currently has an average rating of “Hold” and a consensus price target of $33.09.

Shares of NASDAQ:STNE traded down $0.30 during midday trading on Tuesday, reaching $25.20. The company’s stock had a trading volume of 2,383,422 shares, compared to its average volume of 3,147,389. The company has a market capitalization of $6.98 billion and a price-to-earnings ratio of 76.36. StoneCo has a fifty-two week low of $16.14 and a fifty-two week high of $45.62.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings data on Monday, May 13th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $142.17 million during the quarter. Research analysts predict that StoneCo will post 0.81 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Castle Rock Wealth Management LLC bought a new position in StoneCo during the first quarter valued at $390,000. Jane Street Group LLC bought a new position in StoneCo during the first quarter valued at $2,668,000. BlueCrest Capital Management Ltd bought a new position in StoneCo during the first quarter valued at $282,000. Advent International Corp MA bought a new position in StoneCo during the first quarter valued at $63,852,000. Finally, Whale Rock Capital Management LLC bought a new position in StoneCo during the first quarter valued at $147,171,000. 37.19% of the stock is owned by institutional investors.

StoneCo Company Profile

StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.

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Analyst Recommendations for StoneCo (NASDAQ:STNE)

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