XP (NASDAQ:XP) Stock Price Target Cut by The Goldman Sachs Group

XP (NASDAQ:XP) had its price target lowered by investment analysts at The Goldman Sachs Group from $36.00 to $31.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group‘s price objective indicates a potential upside of 106.60% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Santander downgraded XP to a “neutral” rating in a research note on Thursday, October 29th. JPMorgan Chase & Co. lifted their target price on XP from $26.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th. Weiss Ratings upgraded XP from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. Citigroup lowered shares of XP from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $15.00 in a research report on Tuesday, October 27th. Finally, UBS Group decreased their price target on shares of XP from $37.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, November 5th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.86.

XP Stock Down 2.5%

Shares of XP traded down $0.39 during mid-day trading on Thursday, reaching $15.01. The company’s stock had a trading volume of 3,224,545 shares, compared to its average volume of 7,876,462. The business has a fifty day moving average of $21.95 and a 200 day moving average of $19.07. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 0.34 and a beta of 1.18. XP has a 1 year low of $13.78 and a 1 year high of $32.73. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 0.07.

XP (NASDAQ:XP) last issued its earnings results on Monday, August 17th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. XP had a return on equity of 22.19% and a net margin of 27.20%. The business had revenue of $943.55 million during the quarter, compared to analysts’ expectations of $935.15 million. During the same quarter last year, the firm posted $2.46 earnings per share. XP’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts forecast that XP will post 2.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other XP news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $19.58, for a total value of $2,413,372.06. Following the completion of the sale, the director directly owned 1,500,000 shares of the company’s stock, valued at $29,370,000. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of XP. ARGA Investment Management LP lifted its stake in shares of XP by 10.2% in the 3rd quarter. ARGA Investment Management LP now owns 27,163,927 shares of the company’s stock valued at $570,307,000 after purchasing an additional 2,520,545 shares during the last quarter. Ninety One UK Ltd increased its position in XP by 23.6% during the third quarter. Ninety One UK Ltd now owns 9,962,623 shares of the company’s stock worth $209,165,000 after buying an additional 1,904,034 shares during the last quarter. Bank of America Corp DE increased its position in XP by 33.4% during the first quarter. Bank of America Corp DE now owns 5,147,245 shares of the company’s stock worth $98,004,000 after buying an additional 1,289,393 shares during the last quarter. Ninety One North America Inc. raised its holdings in XP by 1.2% during the third quarter. Ninety One North America Inc. now owns 1,843,127 shares of the company’s stock valued at $38,696,000 after buying an additional 21,082 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in XP by 2.4% during the first quarter. Sei Investments Co. now owns 1,626,489 shares of the company’s stock valued at $30,968,000 after buying an additional 37,929 shares in the last quarter. Institutional investors own 59.15% of the company’s stock.

About XP

XP Inc. is a Brazil-based financial services company that operates a digital investment platform. It offers individuals and businesses access to investment products and services, including brokerage, investment advice and wealth management. The company has expanded beyond investing into banking, credit, insurance and asset management. Its businesses include the XP, Rico and Clear platforms, which serve customers with different investment needs and preferences. Founded in 2001 as an investment advisory business, XP has grown into a broad financial services provider focused primarily on the Brazilian market.