After StoneCo (STNE) reported a net loss of R$2.92B due to the recognition of a R$3.56B impairment loss for the software business unit, Morgan Stanley said that most of the company’s key performance indicators are “moving in the wrong direction” and argues that underperformance is “likely to continue.” The firm maintains an Underweight rating and $5.70 price target on the shares.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STNE:
- Cautious Outlook on Stoneco: Sell Rating Amid Financial Struggles and Market Misalignment
- StoneCo’s (STNE) Q4 Earnings Ignite Stock Surge
- StoneCo’s 2024 Earnings: Strong Growth Amid Challenges
- Closing Bell Movers: HealthEquity down 13% on Q4 miss and guidance
- StoneCo reports Q4 adjusted net income R$2.2, up 41% y/y
Questions or Comments about the article? Write to editor@tipranks.com