This Fintech Stock Is Finally Firing on All Cylinders Again
(NASDAQ: STNE) is up nearly 30% this week after the Brazilian fintech company announced yet another impressive quarter. But its shares also previously rallied hard in August after the company posted an equally impressive second-quarter update -- only to promptly give up those gains in September. So is it really safe for investors to assume StoneCo's post-earnings rally is sustainable this time?
Nobody can make any firm promises to that end, of course. But I think StoneCo's recent gains are significantly safer this time around for one big reason: At long last, StoneCo finally appears to be firing on all cylinders again.
Before we recap StoneCo's latest exceptional quarter, perspective is in order. Recall that the company previously had to grapple with the fallout of soaring interest rates in Brazil eating into its profit margins back in 2021. As rates skyrocketed and the Central Bank of Brazil (BCB) rushed to bring inflation under control, StoneCo initially (and admirably) refused to pass along increased costs to its core base of micro, small, and medium-sized business (MSMB) clients.
Source Fool.com
StoneCo Ltd Stock
With 14 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 17 € shows a positive potential of 38.38% compared to the current price of 12.29 € for StoneCo Ltd.
