StoneCo (NASDAQ:STNE – Get Free Report) had its price objective hoisted by research analysts at Bank of America from $17.00 to $18.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 15.31% from the company’s current price.

Other analysts also recently issued research reports about the stock. Citigroup lifted their target price on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 24th. The Goldman Sachs Group lowered their target price on shares of StoneCo from $13.70 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, October 24th. UBS Group boosted their price objective on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. JPMorgan Chase & Co. boosted their price objective on shares of StoneCo from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, August 22nd. Finally, Barclays boosted their price objective on shares of StoneCo from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 14th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, StoneCo presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.42.

Read Our Latest Report on STNE

StoneCo Stock Performance

Shares of NASDAQ:STNE traded down $0.23 during midday trading on Monday, hitting $15.61. The stock had a trading volume of 2,370,386 shares, compared to its average volume of 5,179,818. The company has a market capitalization of $4.88 billion, a PE ratio of 24.39 and a beta of 2.42. The stock has a 50 day moving average price of $11.97 and a two-hundred day moving average price of $12.33. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.19. StoneCo has a 1 year low of $8.09 and a 1 year high of $16.80.

StoneCo (NASDAQ:STNE – Get Free Report) last issued its earnings results on Friday, November 10th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. The business had revenue of $643.40 million for the quarter, compared to the consensus estimate of $405.25 million. StoneCo had a net margin of 9.02% and a return on equity of 8.85%. As a group, equities analysts predict that StoneCo will post 0.77 earnings per share for the current fiscal year.

Institutional Trading of StoneCo

Several institutional investors and hedge funds have recently modified their holdings of STNE. Discovery Capital Management LLC CT acquired a new position in shares of StoneCo in the second quarter valued at approximately $21,882,000. Raymond James & Associates raised its position in shares of StoneCo by 200.9% in the second quarter. Raymond James & Associates now owns 37,766 shares of the company’s stock valued at $481,000 after buying an additional 25,216 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of StoneCo by 3.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,122,946 shares of the company’s stock valued at $14,306,000 after buying an additional 40,297 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of StoneCo by 114.7% in the second quarter. Panagora Asset Management Inc. now owns 283,355 shares of the company’s stock valued at $3,610,000 after buying an additional 151,373 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. acquired a new position in shares of StoneCo in the second quarter valued at approximately $365,000. Hedge funds and other institutional investors own 77.54% of the company’s stock.

StoneCo Company Profile (Get Free Report)

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.

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Original: MarketBeat News Feed: Bank of America Boosts StoneCo (NASDAQ:STNE) Price Target to $18.00