Why StoneCo Stock Plummeted 54% in November [The Motley Fool]
StoneCo Ltd. - Class A Common Share (STNE)
Company Research
Source: The Motley Fool
Thanks to the fintech's incredible profit margins, this stock was once the golden goose. But its latest quarterly report laid an egg.What happenedShares of Brazilian financial technology companyStoneCo(STNE-4.75% Global Market IntelligenceSo whatLet's start with the good news: In Q3, StoneCo's revenue grew 57% year over year to almost 1.5 billion Brazilian reais (around $264 million), and it ended the quarter with almost 1.4 million active payment clients -- more than double the number it had a year prior. However, revenue wasn't as high as it could have been, considering the company's take rate declined from 2.36% last year to 1.66% this year.Image source: Getty Images.Now the bad news. StoneCo had to write down the value of its investment in Banco Inter by a huge 1.3 billion reais. Moreover, all of StoneCo's expenses grew faster than revenue, causing its profitability to plunge. It recorded a net loss of almost 1.26 billion reais, compared to a profit of 249 million reais in 2020's
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News
- StoneCo Ltd. (STNE) Ascends But Remains Behind Market: Some Facts to Note [Yahoo! Finance]Yahoo! Finance
- Is It Too Late to Buy StoneCo Ltd. Stock? [Yahoo! Finance]Yahoo! Finance
- The Good, The Bad, And The Misunderstood: StoneCo Is A Strong Buy [Seeking Alpha]Seeking Alpha
- StoneCo Ltd. (NASDAQ: STNE) had its price target raised by analysts at Citigroup Inc. from $19.00 to $20.00. They now have a "buy" rating on the stock.MarketBeat
- StoneCo Full Year 2023 Earnings: EPS Beats Expectations [Yahoo! Finance]Yahoo! Finance
STNE
Earnings
- 3/18/24 - Beat
STNE
Sec Filings
- 3/21/24 - Form 6-K
- 3/18/24 - Form 6-K
- 3/18/24 - Form 6-K
- STNE's page on the SEC website