StoneCo Shares Soar 2.38% on Citigroup Upgrade, Strong Earnings

StoneCo(STNE) shares surged 2.38% today, marking the second consecutive day of gains, with a total increase of 5.53% over the past two days. The stock price reached its highest level since August 2024, with an intraday gain of 2.46%.

Citigroup recently upgraded StoneCo's shares from "neutral" to "buy," and increased their price target from $9.00 to $15.00. This upgrade has likely boosted investor confidence in the company, contributing to the recent positive momentum in the stock.

StoneCo reported earnings per share (EPS) of $0.39 for the quarter, exceeding analysts' consensus estimates of $0.32 by $0.07. This strong earnings performance has likely played a significant role in driving the stock price higher, as investors respond positively to the company's financial results.