Wall Street Zen Upgrades PICS (NASDAQ:PICS) to Buy

PICS (NASDAQ:PICS) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday, Wall Street Zen reports.

Several other brokerages also recently issued reports on PICS. Zacks Research downgraded PICS from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Royal Bank Of Canada decreased their target price on PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Mizuho lowered their target price on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, August 26th. Finally, Weiss Ratings upgraded PICS from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PICS presently has an average rating of “Moderate Buy” and an average target price of $22.50.

PICS Price Performance

NASDAQ PICS opened at $13.60 on Friday. The stock’s 50 day simple moving average is $10.68 and its 200 day simple moving average is $11.16. PICS has a one year low of $8.08 and a one year high of $19.95. The firm has a market cap of $1.45 billion and a PE ratio of 15.45.

Institutional Trading of PICS

Hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd bought a new position in PICS in the 2nd quarter worth approximately $3,986,000. Whetstone Capital Advisors LLC acquired a new position in PICS during the 2nd quarter worth $2,189,000. Finally, Readystate Asset Management LP acquired a new position in PICS during the 2nd quarter worth $744,000.

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.