Analysts Set Expectations for StoneCo Ltd.’s FY2023 Earnings (NASDAQ:STNE)

StoneCo Ltd. (NASDAQ:STNEGet Rating) – Stock analysts at Cantor Fitzgerald issued their FY2023 earnings per share (EPS) estimates for StoneCo in a research note issued on Monday, June 6th. Cantor Fitzgerald analyst J. Siegler anticipates that the company will earn $0.63 per share for the year. Cantor Fitzgerald has a “Overweight” rating and a $15.00 price target on the stock.

StoneCo (NASDAQ:STNEGet Rating) last released its quarterly earnings results on Thursday, June 2nd. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.37. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.92 billion. StoneCo had a negative net margin of 30.49% and a negative return on equity of 4.20%. The business’s revenue was up 138.6% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS.

A number of other research firms have also weighed in on STNE. Evercore ISI started coverage on shares of StoneCo in a report on Friday, February 18th. They set a “hold” rating and a $14.00 price target for the company. Citigroup raised shares of StoneCo from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, March 18th. Wells Fargo & Company began coverage on shares of StoneCo in a report on Monday, April 4th. They set an “equal weight” rating and a $13.00 price objective for the company. The Goldman Sachs Group decreased their price objective on shares of StoneCo from $19.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, April 20th. Finally, Susquehanna Bancshares decreased their price objective on shares of StoneCo from $35.00 to $28.00 in a report on Wednesday, March 9th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.31.

STNE opened at $11.89 on Thursday. The company has a fifty day simple moving average of $9.98 and a 200 day simple moving average of $12.73. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -10.71 and a beta of 2.35. StoneCo has a twelve month low of $6.81 and a twelve month high of $71.08. The company has a current ratio of 1.24, a quick ratio of 1.31 and a debt-to-equity ratio of 0.19.

A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in StoneCo by 71.8% in the 1st quarter. Bank of America Corp DE now owns 270,078 shares of the company’s stock valued at $3,159,000 after purchasing an additional 112,855 shares during the last quarter. Verition Fund Management LLC lifted its position in StoneCo by 575.3% in the 1st quarter. Verition Fund Management LLC now owns 90,840 shares of the company’s stock valued at $1,063,000 after purchasing an additional 77,389 shares during the last quarter. Walleye Capital LLC bought a new stake in StoneCo in the 1st quarter valued at about $1,500,000. Gamco Investors INC. ET AL bought a new stake in StoneCo in the 1st quarter valued at about $199,000. Finally, Virtu Financial LLC bought a new stake in StoneCo in the 1st quarter valued at about $411,000. Hedge funds and other institutional investors own 50.45% of the company’s stock.

About StoneCo (Get Rating)

StoneCo Ltd. provides financial technology 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 technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.

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