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Here's Why StoneCo Ltd. (STNE) Gained But Lagged the Market Today
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StoneCo Ltd. (STNE - Free Report) closed at $16.50 in the latest trading session, marking a +1.66% move from the prior day. This change lagged the S&P 500's 2.11% gain on the day. Elsewhere, the Dow gained 1.18%, while the tech-heavy Nasdaq added 2.96%.
Shares of the company witnessed a loss of 6.56% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.69% and the S&P 500's gain of 3.08%.
Investors will be eagerly watching for the performance of StoneCo Ltd. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 18, 2024. The company's earnings per share (EPS) are projected to be $0.29, reflecting a 107.14% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $468.47 million, reflecting an 8.9% fall from the equivalent quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for StoneCo Ltd. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, StoneCo Ltd. is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, StoneCo Ltd. currently has a Forward P/E ratio of 13.52. This signifies a discount in comparison to the average Forward P/E of 31.63 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Here's Why StoneCo Ltd. (STNE) Gained But Lagged the Market Today
StoneCo Ltd. (STNE - Free Report) closed at $16.50 in the latest trading session, marking a +1.66% move from the prior day. This change lagged the S&P 500's 2.11% gain on the day. Elsewhere, the Dow gained 1.18%, while the tech-heavy Nasdaq added 2.96%.
Shares of the company witnessed a loss of 6.56% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.69% and the S&P 500's gain of 3.08%.
Investors will be eagerly watching for the performance of StoneCo Ltd. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 18, 2024. The company's earnings per share (EPS) are projected to be $0.29, reflecting a 107.14% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $468.47 million, reflecting an 8.9% fall from the equivalent quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for StoneCo Ltd. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, StoneCo Ltd. is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, StoneCo Ltd. currently has a Forward P/E ratio of 13.52. This signifies a discount in comparison to the average Forward P/E of 31.63 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.