PICS (NASDAQ:PICS) Stock Has Consensus Target Price of $22.50 According to Brokerages

Shares of PICS (NASDAQ:PICS) have been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.50.

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 report on Monday, August 3rd. Zacks Research downgraded shares of PICS from a “strong-buy” rating to a “hold” rating in a report on Friday, September 18th. Royal Bank Of Canada lowered their target price on shares of PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Mizuho dropped their price target on shares of PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, August 26th. Finally, Wall Street Zen cut PICS from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd.

Hedge Funds Weigh In On PICS

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

PICS Stock Performance

PICS opened at $13.60 on Wednesday. The business has a fifty day simple moving average of $10.67 and a 200 day simple moving average of $11.15. PICS has a 1 year low of $8.08 and a 1 year high of $19.95.

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.