Arco Platform (NASDAQ:ARCE – Get Rating) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Friday, The Fly reports. They presently have a $6.00 target price on the stock, down from their prior target price of $7.00. Morgan Stanley’s target price indicates a potential downside of 43.61% from the stock’s previous close.
ARCE has been the subject of several other research reports. JPMorgan Chase & Co. raised shares of Arco Platform from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $21.00 to $20.00 in a research report on Tuesday, August 30th. Credit Suisse Group lowered shares of Arco Platform from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $18.00 in a research report on Friday, August 26th.
Arco Platform Stock Performance
Shares of ARCE traded up $0.13 during trading hours on Friday, reaching $10.64. 626,530 shares of the company traded hands, compared to its average volume of 200,387. The stock’s fifty day moving average is $12.94 and its 200 day moving average is $15.31. The stock has a market cap of $604.89 million, a P/E ratio of -53.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.19 and a current ratio of 1.33. Arco Platform has a 1-year low of $9.90 and a 1-year high of $23.18.
Arco Platform (NASDAQ:ARCE – Get Rating) last announced its quarterly earnings data on Thursday, August 18th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The company had revenue of $84.01 million for the quarter, compared to analyst estimates of $72.68 million. Arco Platform had a negative net margin of 4.12% and a negative return on equity of 3.94%. During the same period in the prior year, the company posted ($0.07) EPS. Equities research analysts anticipate that Arco Platform will post 0.19 earnings per share for the current fiscal year.
Institutional Trading of Arco Platform
Hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC increased its holdings in shares of Arco Platform by 93.2% during the first quarter. Exchange Traded Concepts LLC now owns 1,654 shares of the company’s stock worth $35,000 after buying an additional 798 shares in the last quarter. Davy Global Fund Management Ltd bought a new stake in shares of Arco Platform during the first quarter valued at approximately $202,000. Invesco Ltd. bought a new stake in shares of Arco Platform during the first quarter valued at approximately $349,000. Daiwa Securities Group Inc. grew its stake in shares of Arco Platform by 115.7% during the first quarter. Daiwa Securities Group Inc. now owns 34,231 shares of the company’s stock valued at $722,000 after purchasing an additional 18,361 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Arco Platform by 8.1% during the first quarter. State Street Corp now owns 35,597 shares of the company’s stock valued at $751,000 after purchasing an additional 2,664 shares during the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.
Arco Platform Company Profile
Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company’s curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Arco Platform, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Arco Platform wasn’t on the list.
While Arco Platform currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Read More: Arco Platform (NASDAQ:ARCE) Downgraded to Equal Weight at Morgan Stanley