Fintech

Why are shares of fintech company StoneCo down today? – StoneCo (NASDAQ:STNE)

Published

9 months ago

on

May 14, 2024 11:45 am | 1 minute read

Professional trader for 20 years reveals his “MoneyLine”

Ditch your indicators and use “MoneyLine”. One simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that helped Nic Chahine win 83% of his options buys. Here’s how he does it.

StoneCo Ltd. (NASDAQ:STNE) shares are trading lower following the news Q1 FY24 results.

Revenues and revenues of R$3.08 billion missed the consensus of R$3.09 billion.

Revenue grew 13.8% year-over-year, led by a 16.0% year-over-year increase in financial services revenue, aided by active customer base growth and increased customer monetization in the MSMB (Micro and SME Clients).

Consolidated total payment volume (TPV), including PIX P2M transactions, grew 17.9% year-over-year to R$114.3 billion in the quarter, led by MSMB segment TPV (+18.4% y/y) and a 147.7% y/y increase in PIX P2M volumes.

MSMB monthly average TPV fell 12.7% y/y in Q1FY24. Customer deposits stood at R$6.0 billion in the quarter, up 53.4% ​​y/y /to.

Adjusted EBITDA increased 20.8% y/y to R$1.51 billion, with a margin of 49.0% (+2.9 percentage points y/y). Adjusted EPS of R$1.42 was missed the consensus of R$1.44.

Adjusted net financial position stood at R$5.14 billion in Q1FY24, up 28.9% y/y.

View: For FY24, the company expects MSMB’s TPV to be >R$412 billion in FY24 and >R$600 billion in FY27.

Investors can gain exposure to the stock via Gabelli ETF Trust Gabelli Financial Services Opportunities ETF (NYSE:GABF) AND First AlphaDEX Brazil Trust Fund (NASDAQ:FBZ).

Price action: At last check on Tuesday, STNE shares fell 9.88% to $15.01.

Professional trader for 20 years reveals his “MoneyLine”

Ditch your indicators and use “MoneyLine”. One simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that helped Nic Chahine win 83% of his options buys. Here’s how he does it.

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