The Goldman Sachs Group Issues Pessimistic Forecast for StoneCo (NASDAQ:STNE) Stock Price

StoneCo (NASDAQ:STNE) had its price target dropped by investment analysts at The Goldman Sachs Group from $16.00 to $14.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 53.17% from the company’s previous close.

STNE has been the topic of a number of other research reports. Citigroup restated a “neutral” rating and set a $9.00 target price (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. Susquehanna reduced their price objective on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research note on Wednesday, November 13th. 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong 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 $14.38.

StoneCo Stock Down 0.9 %

NASDAQ:STNE opened at $9.14 on Thursday. The company has a quick ratio of 1.42, a current 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. The stock’s fifty day simple moving average is $8.63 and its 200-day simple moving average is $10.72. The firm has a market capitalization of $2.82 billion, a P/E ratio of 7.14, a P/E/G ratio of 0.37 and a beta of 2.25.

Institutional Investors Weigh In On StoneCo

A number of hedge funds and other institutional investors have recently made changes to their positions in STNE. Point72 Asset Management L.P. increased its holdings in StoneCo by 36.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock worth $128,617,000 after purchasing an additional 3,035,530 shares in the last quarter. State Street Corp boosted its position in shares of StoneCo by 51.0% during the third quarter. State Street Corp now owns 7,972,037 shares of the company’s stock worth $89,765,000 after buying an additional 2,692,558 shares during the period. Geode Capital Management LLC grew its holdings in shares of StoneCo by 36.0% during the third quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company’s stock worth $58,302,000 after buying an additional 1,374,788 shares in the last quarter. Coronation Fund Managers Ltd. raised its position in StoneCo by 43.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company’s stock valued at $41,363,000 after buying an additional 1,111,065 shares during the last quarter. Finally, Constellation Investimentos e Participacoes Ltda lifted its stake in StoneCo by 30.0% in the 3rd quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company’s stock valued at $34,316,000 after acquiring an additional 703,249 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

StoneCo Company Profile

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.