StoneCo (STNE) Shares Gap Down to $26.39

StoneCo Ltd (NASDAQ:STNE)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $27.02, but opened at $26.39. StoneCo shares last traded at $25.58, with a volume of 4438383 shares traded.

A number of equities analysts recently commented on STNE shares. HSBC started coverage on shares of StoneCo in a research note on Tuesday, May 7th. They set a “reduce” rating and a $20.00 target price for the company. Citigroup downgraded shares of StoneCo from a “buy” rating to a “neutral” rating in a research note on Friday, April 5th. Zacks Investment Research upgraded shares of StoneCo from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Wednesday, February 13th. Morgan Stanley reiterated an “overweight” rating and set a $47.00 target price (up previously from $35.00) on shares of StoneCo in a research note on Thursday, March 21st. Finally, Susquehanna Bancshares assumed coverage on shares of StoneCo in a research note on Friday. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. StoneCo has a consensus rating of “Hold” and a consensus target price of $33.09.

The company has a market cap of $6.98 billion and a PE ratio of 76.36.

StoneCo (NASDAQ:STNE) last released its quarterly earnings data on Monday, May 13th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $142.17 million during the quarter. On average, research analysts anticipate that StoneCo Ltd will post 0.81 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Partner Investment Management L.P. acquired a new position in StoneCo in the fourth quarter valued at $42,000. Kwmg LLC acquired a new position in StoneCo in the first quarter valued at $45,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in StoneCo by 266.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,100 shares of the company’s stock valued at $45,000 after acquiring an additional 800 shares in the last quarter. Victory Capital Management Inc. acquired a new position in StoneCo in the fourth quarter valued at $46,000. Finally, Parisi Gray Wealth Management acquired a new position in StoneCo in the first quarter valued at $102,000. Institutional investors own 37.19% of the company’s stock.

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StoneCo Company Profile (NASDAQ:STNE)

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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