Zacks: Arco Platform Ltd (ARCE) Receives Consensus Recommendation of “Strong Buy” from Analysts
Arco Platform Ltd (NASDAQ:ARCE) has received an average broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy rating.
Brokers have set a 12 month consensus target price of $28.33 for the company, according to Zacks. Zacks has also given Arco Platform an industry rank of 55 out of 255 based on the ratings given to related companies.
Separately, Zacks Investment Research cut shares of Arco Platform from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 14th.
ARCE traded up $1.23 during midday trading on Friday, reaching $30.94. 90,622 shares of the company’s stock were exchanged, compared to its average volume of 76,151. The stock has a market cap of $622.01 million and a price-to-earnings ratio of 114.59. Arco Platform has a one year low of $17.68 and a one year high of $32.24.
Arco Platform (NASDAQ:ARCE) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. The business had revenue of $31.78 million for the quarter. On average, analysts expect that Arco Platform will post 0.69 earnings per share for the current fiscal year.
About Arco Platform
Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform.
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