PICS (NASDAQ:PICS) Receives Average Rating of “Buy” from Analysts

PICS (NASDAQ:PICS) has been assigned an average recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $22.50.

Several brokerages have recently issued reports on PICS. Wall Street Zen downgraded shares of PICS from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings raised PICS from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Zacks Research upgraded PICS from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. Royal Bank Of Canada lowered their price objective on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Tuesday, August 25th. Finally, Mizuho cut their target price on shares of PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PICS. BlueCrest Capital Management Ltd acquired a new stake in shares of PICS in the second quarter valued at about $3,986,000. Whetstone Capital Advisors LLC acquired a new stake in PICS during the 2nd quarter valued at approximately $2,189,000. Finally, Readystate Asset Management LP acquired a new stake in PICS during the 2nd quarter valued at approximately $744,000.

PICS Trading Down 2.9%

PICS stock opened at $10.21 on Friday. The business’s 50-day moving average price is $11.46 and its two-hundred day moving average price is $11.87. PICS has a 12-month low of $8.32 and a 12-month high of $19.95.

About PICS

PicS N.V. operates as a digital financial services company which provides digital wallet and application for individuals and businesses principally in Brazil. It offers a range of transactional products for its consumers, including Pix, an instant payment system, peer-to-peer between PicPay accounts, bill payments, payroll portability, global account and a payment assistant. PicS N.V., formerly known as Picpay Holdings Netherlands B.V., is based in S?o Paulo, Brazil.