StoneCo Beats Major Indexes as Earnings Forecasts Draw Focus

StoneCo shares gained 1.38% in the latest session, closing at $9.55. The stock outperformed the S&P 500, which rose 0.73%, as well as the Dow and Nasdaq.

That daily rise followed a weaker month. StoneCo fell 8.72% over the past month, while the Computer and Technology sector gained 6.36% and the S&P 500 added 0.55%.

Ahead of the company’s next earnings release, Zacks consensus estimates call for quarterly earnings of $0.50 per share and revenue of $710.03 million. Those forecasts represent year-over-year increases of 16.28% and 8.45%, respectively.

For the full year, analysts surveyed by Zacks expect earnings of $2.23 per share and revenue of $2.85 billion. The estimates imply gains of 37.65% in earnings and 7.98% in revenue from the prior year.

The consensus estimate for earnings per share has fallen 3.05% over the past month, according to Zacks. The company’s upcoming results will show how its reported performance compares with those forecasts.