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Why StoneCo Stock Just Jumped 13%

TheMotleyFool 
0 0 13.11.23
Why StoneCo Stock Just Jumped 13%Photo, wide shot, wide-angle lens, soft focus, IT consulting firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-uhXP0RHYYxDepjmHeSp1K8bF.png?st=2023-05-07T15%3A26%3A44Z&se=2023-05-07T17%3A26%3A44Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-07T16%3A18%3A55Z&ske=2023-05-08T16%3A18%3A55Z&sks=b&skv=2021-08-06&sig=4pcJOd8aEI1799liUV13F4ElqO7e4RZy8sa1PEeeNZA%3D
 

Shares of Cayman Islands-based fintech stock StoneCo (NASDAQ: STNE) enjoyed a 13.2% run-up through 11:30 a.m. ET Monday morning, as investors got their first chance to react to the company's apparent after-hours earnings beat on Friday.

StoneCo closed out its third quarter of 2023 with 3.1 billion reals in revenue and 545 million reals in adjusted pre-tax earnings, "exceeding expectations," as management declared.

Reals are the Brazilian currency, in which StoneCo reports its results -- seeing as it's a Brazilian company, despite being headquartered in the Caymans. There are 4.92 Brazilian reals to the US dollar.

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Source Fool.com

StoneCo Ltd Stock

€8.97
-1.920%
A loss of -1.920% shows a downward development for StoneCo Ltd.
StoneCo Ltd is currently one of the favorites of our community with 12 Buy predictions and no Sell predictions.
With a target price of 16 € there is a hugely positive potential of 78.33% for StoneCo Ltd compared to the current price of 8.97 €.
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