This Fintech Thinks Its Own Stock Is Cheap
Earlier this week, (NASDAQ: STNE) announced a new 300 million Brazilian real (roughly $58.2 million) repurchase authorization. Shares closed up around 2% on Wednesday in response -- slightly larger than the repurchase plan's size relative to StoneCo's roughly $3.2 billion market cap as of this writing.
While it might be tempting to argue this buyback is insignificant or even ill advised, I think it's a great sign for patient, long-term investors willing to watch StoneCo's growth story play out.
But why?
Source Fool.com
StoneCo Ltd Stock
€10.69
4.290%
We see a rather positive sentiment for StoneCo Ltd with 11 Buy predictions and 1 Sell predictions.
With a target price of 16 € there is a positive potential of 49.74% for StoneCo Ltd compared to the current price of 10.69 €.
