Goldman Sachs lowers target on StoneCo

Apr. 20, 2022 1:32 PM ETStoneCo Ltd. (STNE)By: Preeti Singh, SA News Editor11 Comments

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  • StoneCo (NASDAQ:STNE) shares plunged 6% on Wednesday after Goldman Sachs lowered its price target on the stock.
  • The brokerage slashed StoneCo's (STNE) PT from $19.00 to $12.00, while keeping a Neutral rating.
  • Recently, UBS also cut its target on STNE from $21 to $13, implying a 21% increase from last price. UBS also keeps a neutral rating on the stock.
  • The Brazilian fintech firm has had a rough 12 months, with the stock declining from $92 to $9 before recovering to $14 following fourth-quarter earnings.
  • Shares climbed 42.04% on Mar. 18 on the back of the results that were boosted by strong performance in the MSMB unit. Q4 revenue grew 87% Y/Y, with the firm adding a record 377.7K net new clients during the period.
  • Recent SA analyses have been largely bullish, with columnist WideAlpha laying out a Strong Buy thesis for the stock
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