StoneCo Ltd (NASDAQ:STNE) Given Consensus Recommendation of “Hold” by Analysts

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Shares of StoneCo Ltd (NASDAQ:STNE) have been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $33.86.

Several analysts have recently commented on the company. Citigroup set a $27.00 price objective on StoneCo and gave the stock a “hold” rating in a research note on Friday, May 31st. Susquehanna Bancshares assumed coverage on StoneCo in a research note on Friday, May 31st. They issued a “neutral” rating for the company. Goldman Sachs Group assumed coverage on StoneCo in a research note on Monday, June 10th. They issued a “buy” rating and a $37.00 price objective for the company. Credit Suisse Group raised StoneCo from a “neutral” rating to an “outperform” rating in a research note on Monday, July 22nd. Finally, HSBC assumed coverage on StoneCo in a research note on Tuesday, May 7th. They issued a “reduce” rating and a $20.00 price objective for the company.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of StoneCo by 10.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 35,168,221 shares of the company’s stock valued at $1,040,276,000 after acquiring an additional 3,234,024 shares during the last quarter. Invesco Ltd. purchased a new stake in shares of StoneCo during the second quarter valued at approximately $251,806,000. OppenheimerFunds Inc. grew its holdings in StoneCo by 34.6% during the first quarter. OppenheimerFunds Inc. now owns 3,491,865 shares of the company’s stock valued at $143,551,000 after purchasing an additional 897,225 shares during the period. Maverick Capital Ltd. bought a new position in StoneCo during the second quarter valued at $77,364,000. Finally, Bamco Inc. NY grew its holdings in StoneCo by 103.6% during the second quarter. Bamco Inc. NY now owns 2,103,266 shares of the company’s stock valued at $62,215,000 after purchasing an additional 1,069,975 shares during the period. 37.49% of the stock is owned by institutional investors.

Shares of StoneCo stock traded up $1.18 on Friday, hitting $31.70. The company had a trading volume of 2,419,700 shares, compared to its average volume of 2,805,146. The stock has a market capitalization of $8.46 billion and a price-to-earnings ratio of 96.06. StoneCo has a 1 year low of $16.14 and a 1 year high of $45.62. The stock has a 50 day moving average of $33.35 and a 200-day moving average of $30.40.

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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