On May 26, 2023, Jeff Cantwell, a highly-rated analyst at Wells Fargo, maintained an Equal-Weight rating for PagSeguro Digital (NYSE:PAGS) and raised the price target from $10 to $12. Cantwell specializes in the Financial sector and has a success rate of 58.40% while covering 45 stocks. PagSeguro Digital Ltd. (PAGS) is a leading Brazilian fintech company that offers digital payment solutions and financial services. Following the release of the Q4 earnings report, which demonstrated impressive expense controls, the stock surged by as much as 19.3%.
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PagSeguro Digital Ltd (PAGS) Stock Forecast: Positive Outlook Despite Cautious Investor Sentiment
On May 26, 2023, PagSeguro Digital Ltd (PAGS) had a median target price of 12.47, according to 21 analysts offering 12-month price forecasts. The high estimate was 18.63, while the low estimate was 8.44. The median estimate represented a 2.70% increase from the last price of 12.14.
Despite the positive outlook, the current consensus among 23 polled investment analysts was to hold stock in PAGS. This rating had remained unchanged since May.
However, PAGS had reported strong earnings results for the current quarter, with earnings per share of $1.31 and sales of $4.1 billion. The reporting date for these results was set for August 31, 2023.
Overall, while PAGS had a positive outlook based on its median target price, investors were still cautious in their approach to the stock. The upcoming earnings report in August would provide more insight into the company’s growth potential and could potentially sway investor sentiment towards a more optimistic outlook.
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