PICS (NASDAQ:PICS) Receives $23.17 Average Target Price from Brokerages

PICS (NASDAQ:PICS) has earned an average recommendation of “Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.1667.

PICS has been the subject of a number of recent research reports. Weiss Ratings raised shares of PICS from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Zacks Research upgraded shares of PICS from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Mizuho set a $18.00 price target on PICS in a research report on Wednesday, June 3rd. Wall Street Zen lowered PICS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Royal Bank Of Canada reduced their price objective on PICS from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd.

Insider Transactions at PICS

In related news, Director Costa Jose Antonio Batista purchased 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $9.09 per share, for a total transaction of $199,980.00. Following the acquisition, the director owned 4,291,216 shares of the company’s stock, valued at approximately $39,007,153.44. This represents a 0.52% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Rodney Pruett purchased 25,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $9.10 per share, with a total value of $227,500.00. Following the completion of the transaction, the director owned 25,000 shares of the company’s stock, valued at $227,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 136,130 shares of company stock worth $1,267,515.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in PICS stock. Readystate Asset Management LP bought a new position in PICS (NASDAQ:PICS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 70,000 shares of the company’s stock, valued at approximately $744,000.

PICS Stock Performance

Shares of PICS opened at $10.90 on Tuesday. PICS has a 1 year low of $8.32 and a 1 year high of $19.95. The business’s 50 day moving average price is $11.39.

PICS (NASDAQ:PICS) last posted its earnings results on Monday, August 24th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). PICS had a net margin of 10.00% and a return on equity of 15.20%. As a group, equities analysts forecast that PICS will post 1.36 EPS for the current fiscal year.

About PICS

PicS N.V. operates as a digital financial services company which provides digital wallet and application for individuals and businesses principally in Brazil. It offers a range of transactional products for its consumers, including Pix, an instant payment system, peer-to-peer between PicPay accounts, bill payments, payroll portability, global account and a payment assistant. PicS N.V., formerly known as Picpay Holdings Netherlands B.V., is based in S?o Paulo, Brazil.