The Goldman Sachs Group Lowers StoneCo (NASDAQ:STNE) Price Target to $14.00

StoneCo (NASDAQ:STNE) had its price objective lowered by equities research analysts at The Goldman Sachs Group from $16.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 50.78% from the company’s previous close.

A number of other research firms also recently commented on STNE. Citigroup reaffirmed a “neutral” rating and set a $9.00 price objective (down previously from $19.00) on shares of StoneCo in a research note on Thursday, January 16th. Barclays dropped their price objective on shares of StoneCo from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Susquehanna dropped their price objective on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.38.

StoneCo Trading Down 0.6 %

Shares of NASDAQ STNE traded down $0.06 on Thursday, reaching $9.29. 1,047,913 shares of the company traded hands, compared to its average volume of 5,044,082. StoneCo has a fifty-two week low of $7.72 and a fifty-two week high of $19.46. The company has a 50 day moving average of $8.66 and a 200 day moving average of $10.76. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.87 billion, a PE ratio of 7.25, a P/E/G ratio of 0.37 and a beta of 2.25.

Hedge Funds Weigh In On StoneCo

A number of institutional investors and hedge funds have recently bought and sold shares of STNE. The Manufacturers Life Insurance Company boosted its stake in shares of StoneCo by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 123,275 shares of the company’s stock valued at $1,478,000 after buying an additional 1,848 shares during the last quarter. SG Americas Securities LLC lifted its stake in StoneCo by 233.7% in the third quarter. SG Americas Securities LLC now owns 117,093 shares of the company’s stock valued at $1,318,000 after buying an additional 82,003 shares during the last quarter. Constellation Investimentos e Participacoes Ltda lifted its stake in StoneCo by 30.0% in the third quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company’s stock valued at $34,316,000 after buying an additional 703,249 shares during the last quarter. Jessup Wealth Management Inc bought a new stake in StoneCo in the third quarter valued at $773,000. Finally, Creative Planning raised its stake in shares of StoneCo by 224.9% during the third quarter. Creative Planning now owns 65,321 shares of the company’s stock valued at $736,000 after purchasing an additional 45,218 shares in the last quarter. Hedge funds and other institutional investors 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.