XP (NASDAQ:XP) Hits New 52-Week High – What’s Next?

XP Inc. (NASDAQ:XP) shares hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $32.58 and last traded at $32.3980, with a volume of 549,257 shares. The stock had previously closed at $32.22.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on XP. Weiss Ratings raised shares of XP from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. UBS Group raised their price target on shares of XP from $25.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. raised their price target on shares of XP from $26.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 6th. Citigroup boosted their price target on shares of XP from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Finally, Itau BBA Securities raised shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Monday, August 31st. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.80.

XP Stock Down 3.7%

The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $16.86 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 0.87 and a beta of 1.01. The business has a 50-day moving average price of $20.28 and a 200-day moving average price of $18.46.

XP (NASDAQ:XP) last announced its quarterly earnings data on Monday, August 17th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $943.55 million for the quarter, compared to the consensus estimate of $935.15 million. XP had a return on equity of 22.19% and a net margin of 27.20%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 earnings per share. Equities research analysts forecast that XP Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Transactions at XP

In other XP news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $19.58, for a total value of $2,413,372.06. Following the completion of the sale, the director directly owned 1,500,000 shares of the company’s stock, valued at $29,370,000. This trade represents a 7.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of XP. EverSource Wealth Advisors LLC grew its holdings in shares of XP by 46.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,471 shares of the company’s stock worth $47,000 after purchasing an additional 781 shares during the period. Parallel Advisors LLC increased its position in shares of XP by 117.3% during the 1st quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock worth $63,000 after purchasing an additional 1,775 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in XP in the 2nd quarter valued at about $91,000. Strategic Investment Advisors MI purchased a new stake in XP in the 1st quarter valued at about $126,000. Finally, 9823 Capital L.P. purchased a new stake in XP in the 4th quarter valued at about $183,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.

About XP

XP Inc is a Brazil-based financial services platform that provides investment, banking and related financial products to individuals, businesses and institutional clients. Through its digital platforms and network of financial professionals, the company offers access to investments such as stocks, bonds, mutual funds, exchange-traded funds, real estate funds, retirement products and insurance.

The company operates a portfolio of brands that includes XP, Rico and Clear, serving customers with different investment needs and levels of experience.