StoneCo (NASDAQ:STNE) Shares Down 5.2%
Shares of StoneCo Ltd (NASDAQ:STNE) were down 5.2% during mid-day trading on Monday . The company traded as low as $31.49 and last traded at $31.85, approximately 1,529,456 shares traded hands during trading. A decline of 45% from the average daily volume of 2,787,049 shares. The stock had previously closed at $33.60.
STNE has been the topic of a number of research analyst reports. Goldman Sachs Group assumed coverage on StoneCo in a report on Monday, June 10th. They set a “buy” rating and a $37.00 price target on the stock. Guggenheim initiated coverage on shares of StoneCo in a report on Tuesday, September 3rd. They issued a “buy” rating and a $38.00 price objective for the company. Zacks Investment Research lowered shares of StoneCo from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $39.00 target price (up previously from $33.00) on shares of StoneCo in a research report on Thursday, August 15th. Finally, Bank of America reissued a “buy” rating and set a $42.00 target price on shares of StoneCo in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $35.89.
The company has a market capitalization of $8.62 billion and a price-to-earnings ratio of 96.45. The firm has a 50-day moving average price of $33.11 and a 200-day moving average price of $31.47. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.05.
About StoneCo (NASDAQ:STNE)
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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