PagSeguro Digital (NYSE:PAGS) Rating Lowered to Market Perform at Itau BBA Securities

PagSeguro Digital (NYSE:PAGS) was downgraded by equities research analysts at Itau BBA Securities from an “outperform” rating to a “market perform” rating in a report released on Tuesday, Marketbeat.com reports. They currently have a $12.00 price target on the stock. Itau BBA Securities’ price target indicates a potential upside of 44.23% from the company’s current price.

PAGS has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on shares of PagSeguro Digital from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. Barclays cut their price target on PagSeguro Digital from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley restated an “underweight” rating and set a $6.50 price objective (down previously from $14.00) on shares of PagSeguro Digital in a research note on Thursday, September 5th. The Goldman Sachs Group upgraded PagSeguro Digital from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, June 26th. Finally, UBS Group dropped their price target on shares of PagSeguro Digital from $16.50 to $15.50 and set a “buy” rating for the company in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, PagSeguro Digital currently has an average rating of “Moderate Buy” and a consensus target price of $14.80.

PagSeguro Digital Stock Performance

Shares of NYSE:PAGS opened at $8.32 on Tuesday. The business’s 50-day simple moving average is $11.10 and its 200 day simple moving average is $12.05. The company has a market cap of $2.74 billion, a P/E ratio of 7.50, a PEG ratio of 0.46 and a beta of 1.95. PagSeguro Digital has a one year low of $6.93 and a one year high of $14.98.

PagSeguro Digital (NYSE:PAGS) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $874.38 million for the quarter, compared to analyst estimates of $816.34 million. PagSeguro Digital had a net margin of 10.93% and a return on equity of 14.97%. During the same quarter last year, the firm posted $0.26 earnings per share. Analysts predict that PagSeguro Digital will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On PagSeguro Digital

Several large investors have recently added to or reduced their stakes in PAGS. Quarry LP raised its holdings in shares of PagSeguro Digital by 156.2% during the second quarter. Quarry LP now owns 6,242 shares of the company’s stock worth $73,000 after purchasing an additional 3,806 shares during the period. Algert Global LLC bought a new stake in shares of PagSeguro Digital during the 2nd quarter valued at about $1,212,000. Mackenzie Financial Corp raised its stake in PagSeguro Digital by 18.4% during the second quarter. Mackenzie Financial Corp now owns 36,070 shares of the company’s stock worth $422,000 after acquiring an additional 5,596 shares during the period. Millennium Management LLC raised its stake in PagSeguro Digital by 115.1% during the second quarter. Millennium Management LLC now owns 3,813,901 shares of the company’s stock worth $44,585,000 after acquiring an additional 2,040,704 shares during the period. Finally, Maverick Capital Ltd. lifted its holdings in PagSeguro Digital by 328.9% in the second quarter. Maverick Capital Ltd. now owns 123,867 shares of the company’s stock worth $1,448,000 after acquiring an additional 94,989 shares during the last quarter. 45.88% of the stock is currently owned by institutional investors.

PagSeguro Digital Company Profile

PagSeguro Digital Ltd., together with its subsidiaries, provides financial technology solutions and services for consumers, individual entrepreneurs, micro-merchants, and small and medium-sized companies in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, a digital ecosystem that operates as a closed loop where its clients are able to address their primary day to day financial needs, including receiving and spending funds, and managing and growing their businesses; PagBank digital account, which offers payment and banking services through the PagBank mobile app, as well as centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem; and PlugPag, a tool for medium-sized and larger merchants that enables them to connect their point of sale (POS) device directly to their enterprise resource planning software or sales automation system through Bluetooth.