5 Stocks That Could 10X Over the Next 10 Years

3. StoneCo Ltd. (NASDAQ:STNE)

Number of Hedge Fund Holders: 35

We saw 35 hedge funds long StoneCo Ltd. (NASDAQ:STNE) in the second quarter. Their total stake value was $871.2 million.

StoneCo Ltd. (NASDAQ:STNE) is a financial company providing financial tech and software solutions. It is based in George Town, Cayman Islands.

A Buy rating and an $18 price target were maintained on StoneCo Ltd. (NASDAQ:STNE) on August 24 by Gabriel Gusan at Citigroup.

Nordstern Capital made the following comments about StoneCo Ltd. (NASDAQ:STNE) in its first-quarter 2023 investor letter:

StoneCo Ltd. (NASDAQ:STNE): (STNE, share price increased + 1% in 1Q 2023)

The card association in Brazil have indicated that the industry should grow between 14% and 18% this year. And we expect to continue to gain market share.” – Thiago dos Santos Piao, Director and former CEO StoneCo Ltd

STNE’s transformation is progressing well. New key personnel have joined, the board and management have strengthened. Cash flows are growing, margins are increasing, the client base and market share keep expanding. The company is all set to restart its lending business in the second half of 2023.

In our view, despite all the changes, STNE still offers best-in-class service coupled with lower pricing than the industry and continues to drive high customer satisfaction…” (Click here to read the full text)

Follow Stoneco Ltd. (NASDAQ:STNE)