Arco Platform Ltd (NASDAQ:ARCE) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Arco Platform Ltd (NASDAQ:ARCE) have been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $27.00.
ARCE has been the topic of a number of research reports. Bank of America initiated coverage on Arco Platform in a report on Thursday, August 29th. They issued a “buy” rating on the stock. Credit Suisse Group initiated coverage on Arco Platform in a report on Tuesday, June 25th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded Arco Platform from a “sell” rating to a “hold” rating in a report on Monday, June 3rd.
A number of hedge funds have recently bought and sold shares of ARCE. ThornTree Capital Partners LP purchased a new stake in Arco Platform in the 2nd quarter valued at approximately $8,110,000. Bank of New York Mellon Corp lifted its stake in Arco Platform by 112.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 241,430 shares of the company’s stock valued at $10,570,000 after buying an additional 127,995 shares in the last quarter. BlackRock Inc. lifted its stake in Arco Platform by 9.4% in the 2nd quarter. BlackRock Inc. now owns 1,159,685 shares of the company’s stock valued at $50,771,000 after buying an additional 99,989 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in Arco Platform in the 1st quarter valued at approximately $1,939,000. Finally, Grandeur Peak Global Advisors LLC lifted its stake in Arco Platform by 38.5% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 216,139 shares of the company’s stock valued at $9,463,000 after buying an additional 60,050 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.
Arco Platform (NASDAQ:ARCE) last released its quarterly earnings results on Tuesday, August 27th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $35.09 million for the quarter. Arco Platform had a positive return on equity of 7.25% and a negative net margin of 18.12%. On average, sell-side analysts anticipate that Arco Platform will post 0.49 earnings per share for the current fiscal year.
Arco Platform Company Profile
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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