Brokerages Set PICS (NASDAQ:PICS) Target Price at $22.50

PICS (NASDAQ:PICS) has been given a consensus recommendation of “Buy” by the eight research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $22.50.

Several research analysts have issued reports on the company. Wall Street Zen lowered PICS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings raised PICS from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Royal Bank Of Canada reduced their target price on PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 25th. Mizuho reduced their target price on PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 26th. Finally, Zacks Research raised shares of PICS from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 20th.

PICS Price Performance

PICS stock opened at $9.28 on Friday. PICS has a 1-year low of $8.32 and a 1-year high of $19.95. The company’s 50-day moving average is $11.29 and its 200 day moving average is $11.62.

Institutional Investors Weigh In On PICS

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Readystate Asset Management LP bought a new position in PICS in the 2nd quarter worth about $744,000. Whetstone Capital Advisors LLC bought a new stake in shares of PICS during the second quarter valued at approximately $2,189,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of PICS in the second quarter valued at approximately $3,986,000.

PICS Company Profile

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.