Bank of America reissued their buy rating on shares of StoneCo (NASDAQ:STNE) in a report issued on Thursday morning, AnalystRatings.com reports. Bank of America currently has a $42.00 price objective on the stock.
A number of other equities research analysts have also recently commented on STNE. Goldman Sachs Group initiated coverage on StoneCo in a report on Monday, June 10th. They set a buy rating and a $37.00 price target on the stock. Susquehanna Bancshares initiated coverage on StoneCo in a report on Friday, May 31st. They set a neutral rating on the stock. Citigroup set a $27.00 price target on StoneCo and gave the company a hold rating in a report on Friday, May 31st. Credit Suisse Group raised StoneCo from a neutral rating to an outperform rating in a report on Monday, July 22nd. Finally, Zacks Investment Research cut StoneCo from a hold rating to a sell rating in a report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $34.88.
NASDAQ:STNE opened at $31.70 on Thursday. The business’s 50-day simple moving average is $33.35 and its two-hundred day simple moving average is $30.40. The stock has a market cap of $8.46 billion and a PE ratio of 96.06. StoneCo has a 52 week low of $16.14 and a 52 week high of $45.62.
StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.
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