StoneCo Ltd. (STNE) stock declined by 1.19% at the last trading close whereas the STNE stock surges by 2.09% in the pre-market trading session. Stone is a leading supplier of financial technology solutions that can help merchants develop their businesses by enabling them to conduct commerce seamlessly through multiple channels.
What is happening?
On April 7, 2021, STNE announced that it has submitted its Annual Report on Form 20-F for the fiscal year ended December 31, 2020, with the Securities and Exchange Commission.
Outlook for STNE’s 2020 performance
On March 12, STNE released its financial results from which it was concluded that even after the effects of COVID-19 on society as a whole, STNE has maintained sustainable growth and has been able to ensure long-term value creation while assisting their customers, team, and society in navigating these difficult times.
2021 Business Predictions
In the financial results, STNE stated that they intend to increase their growth in 2021 while investing heavily in the company to develop the skills they’ll need to pursue long-term opportunities. Given below is the list below for some of their current plans for 2021:
- STNE is planning to surpass the mark of 1 million active clients in payments.
- STNE is expecting its take rate to increase along 2021 and strong growth in TON.
- STNE’s total Revenue and Income are projected to increase significantly faster than they did in 2020.
- In 2021, we intend to increase our salesforce and technology teams by at least 60%.
- In comparison to 2020, adjusted net margin is projected to be close.
- We anticipate that the effective tax rate will be close to that of 2020.