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

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

STNE has been the subject of several other reports. Citigroup restated a “neutral” rating and set a $9.00 price objective (down from $19.00) on shares of StoneCo in a research report on Thursday, January 16th. Barclays lowered their target price 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 lowered their target price 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. lowered their price objective on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.38.

StoneCo Stock Performance

Shares of STNE stock traded down $0.06 during trading hours on Thursday, hitting $9.29. The company’s stock had a trading volume of 1,047,913 shares, compared to its average volume of 5,044,082. The company has a 50 day moving average of $8.66 and a 200 day moving average of $10.76. The stock has a market cap of $2.87 billion, a PE ratio of 7.25, a price-to-earnings-growth ratio of 0.37 and a beta of 2.25. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo has a 12-month low of $7.72 and a 12-month high of $19.46.

Hedge Funds Weigh In On StoneCo

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of StoneCo during the 4th quarter worth $56,000. Jones Financial Companies Lllp boosted its position in shares of StoneCo by 254.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company’s stock worth $34,000 after buying an additional 3,056 shares in the last quarter. Metis Global Partners LLC purchased a new stake in shares of StoneCo in the 4th quarter worth about $115,000. Proficio Capital Partners LLC purchased a new stake in shares of StoneCo in the 4th quarter worth about $101,000. Finally, Bank of New York Mellon Corp boosted its position in shares of StoneCo by 1.6% in the 4th quarter. Bank of New York Mellon Corp now owns 987,125 shares of the company’s stock worth $7,867,000 after buying an additional 15,200 shares in the last quarter. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

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.