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
€9.86
1.750%
With 12 Buy predictions and not the single Sell prediction the community is currently very high on StoneCo Ltd.
As a result the target price of 16 € shows a very positive potential of 62.21% compared to the current price of 9.86 € for StoneCo Ltd.
