Arco Platform (NASDAQ:ARCE) Upgraded by Zacks Investment Research to “Buy”

Arco Platform (NASDAQ:ARCEGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage currently has a $18.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.38% from the stock’s current price.

According to Zacks, “Arco Platform Limited develops educational software. The Company offers a platform which delivers educational content in printed and digital formats. Arco Platform Limited is based in Vila Olimpia Sao Paulo, Brazil. “

Separately, JPMorgan Chase & Co. assumed coverage on shares of Arco Platform in a report on Wednesday, February 16th. They set a “neutral” rating and a $22.00 price objective for the company.

Shares of ARCE stock traded down $0.67 during trading hours on Tuesday, hitting $15.60. 95,107 shares of the company were exchanged, compared to its average volume of 227,179. The firm has a fifty day simple moving average of $18.68 and a 200 day simple moving average of $19.44. The stock has a market capitalization of $459.44 million, a price-to-earnings ratio of -70.91 and a beta of 0.75. Arco Platform has a 52-week low of $14.60 and a 52-week high of $34.34. The company has a current ratio of 1.47, a quick ratio of 1.35 and a debt-to-equity ratio of 0.78.

Arco Platform (NASDAQ:ARCEGet Rating) last issued its earnings results on Tuesday, May 24th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.38). Arco Platform had a negative return on equity of 3.43% and a negative net margin of 5.13%. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Sell-side analysts anticipate that Arco Platform will post 0.23 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its holdings in shares of Arco Platform by 52.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 15,870 shares of the company’s stock worth $332,000 after buying an additional 5,441 shares in the last quarter. Global Endowment Management LP lifted its position in shares of Arco Platform by 52.8% during the fourth quarter. Global Endowment Management LP now owns 633,754 shares of the company’s stock worth $13,239,000 after purchasing an additional 219,124 shares in the last quarter. General Atlantic L.P. acquired a new stake in Arco Platform in the fourth quarter valued at approximately $2,194,000. Capital Research Global Investors raised its holdings in Arco Platform by 15.8% in the fourth quarter. Capital Research Global Investors now owns 2,325,125 shares of the company’s stock valued at $48,572,000 after acquiring an additional 317,744 shares in the last quarter. Finally, US Bancorp DE acquired a new stake in Arco Platform in the third quarter valued at approximately $30,000.

Arco Platform Company Profile (Get Rating)

Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform.

Further Reading

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