JPMorgan Chase & Co. Cuts StoneCo (NASDAQ:STNE) Price Target to $15.00

StoneCo (NASDAQ:STNE) had its target price lowered by JPMorgan Chase & Co. from $21.00 to $15.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on STNE. Morgan Stanley reissued an “underweight” rating and set a $7.00 price target (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Susquehanna reduced their target price on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a report on Wednesday, November 13th. Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a report on Thursday, October 3rd. UBS Group raised their price target on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Barclays lowered their target price on StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.13.

StoneCo Stock Performance

Shares of STNE stock opened at $8.04 on Monday. The stock has a 50-day moving average of $10.34 and a 200-day moving average of $11.78. StoneCo has a one year low of $8.02 and a one year high of $19.46. The stock has a market cap of $2.48 billion, a PE ratio of 6.28, a price-to-earnings-growth ratio of 0.35 and a beta of 2.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42.

Institutional Trading of StoneCo

Institutional investors have recently made changes to their positions in the business. Y.D. More Investments Ltd increased its stake in StoneCo by 90.2% in the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after buying an additional 2,275 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of StoneCo in the third quarter valued at about $125,000. Point72 Hong Kong Ltd bought a new stake in StoneCo during the second quarter worth about $135,000. nVerses Capital LLC acquired a new position in StoneCo during the second quarter valued at approximately $137,000. Finally, HB Wealth Management LLC bought a new position in StoneCo in the second quarter valued at approximately $153,000. Institutional investors own 73.19% of the company’s stock.

About StoneCo

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.