StoneCo (NASDAQ:STNE) PT Raised to $11.00 at Wells Fargo & Company

StoneCo (NASDAQ:STNEGet Rating) had its price objective hoisted by Wells Fargo & Company from $10.00 to $11.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 16.90% from the company’s previous close.

STNE has been the subject of a number of other research reports. The Goldman Sachs Group raised StoneCo from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $7.50 to $11.00 in a report on Thursday, December 1st. Grupo Santander upgraded StoneCo from an “underperform” rating to a “neutral” rating in a research note on Wednesday, December 14th. Morgan Stanley downgraded StoneCo from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $17.00 to $15.00 in a research note on Tuesday, December 6th. Finally, Evercore ISI upgraded StoneCo from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $10.00 to $16.00 in a research note on Monday, November 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, StoneCo presently has an average rating of “Hold” and a consensus price target of $15.38.

StoneCo Stock Up 2.3 %

StoneCo stock opened at $9.41 on Wednesday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -10.61 and a beta of 2.23. The stock has a fifty day simple moving average of $9.69 and a two-hundred day simple moving average of $9.95. StoneCo has a 12 month low of $6.81 and a 12 month high of $15.01. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On StoneCo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. purchased a new position in StoneCo in the 4th quarter valued at about $25,000. Signaturefd LLC increased its holdings in StoneCo by 62.7% during the 4th quarter. Signaturefd LLC now owns 3,222 shares of the company’s stock worth $30,000 after purchasing an additional 1,242 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of StoneCo during the fourth quarter worth $32,000. Belpointe Asset Management LLC acquired a new stake in shares of StoneCo during the 4th quarter worth about $49,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in StoneCo in the fourth quarter valued at $56,000. 59.80% of the stock is owned by institutional investors and hedge funds.

About StoneCo

(Get Rating)

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. The firm offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.

Featured Articles

Analyst Recommendations for StoneCo (NASDAQ:STNE)

Receive News & Ratings for StoneCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StoneCo and related companies with MarketBeat.com's FREE daily email newsletter.