StoneCo (NASDAQ:STNE) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of StoneCo (NASDAQ:STNE) in a research report sent to investors on Thursday, The Fly reports. They currently have a $39.00 price target on the stock, up from their previous price target of $33.00.

STNE has been the topic of a number of other reports. Zacks Investment Research lowered StoneCo from a hold rating to a sell rating in a report on Tuesday, May 21st. Credit Suisse Group upgraded StoneCo from a neutral rating to an outperform rating in a report on Monday, July 22nd. Susquehanna Bancshares initiated coverage on StoneCo in a report on Friday, May 31st. They set a neutral rating on the stock. Citigroup set a $27.00 price target on StoneCo and gave the stock a hold rating in a report on Friday, May 31st. Finally, Goldman Sachs Group initiated coverage on StoneCo in a report on Monday, June 10th. They set a buy rating and a $37.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $34.88.

Shares of NASDAQ:STNE opened at $31.70 on Thursday. The business’s 50 day moving average is $33.35 and its 200 day moving average is $30.40. The stock has a market cap of $8.46 billion and a price-to-earnings ratio of 96.06. StoneCo has a 12-month low of $16.14 and a 12-month high of $45.62.

Institutional investors and hedge funds have recently modified their holdings of the business. Focused Wealth Management Inc bought a new stake in shares of StoneCo in the second quarter valued at $30,000. Kwmg LLC bought a new stake in shares of StoneCo in the first quarter valued at $45,000. US Bancorp DE bought a new stake in shares of StoneCo in the second quarter valued at $36,000. Tortoise Index Solutions LLC raised its stake in shares of StoneCo by 210.8% in the second quarter. Tortoise Index Solutions LLC now owns 1,691 shares of the company’s stock valued at $50,000 after buying an additional 1,147 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of StoneCo by 109.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,214 shares of the company’s stock valued at $65,000 after buying an additional 1,156 shares during the period. Hedge funds and other institutional investors own 37.49% of the company’s stock.

About StoneCo

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

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The Fly

Analyst Recommendations for StoneCo (NASDAQ:STNE)

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