Zacks: Arco Platform Ltd (ARCE) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Arco Platform Ltd (NASDAQ:ARCE) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus price target of $28.33 for the company, according to Zacks. Zacks has also assigned Arco Platform an industry rank of 25 out of 255 based on the ratings given to its competitors.

ARCE has been the subject of several analyst reports. Goldman Sachs Group initiated coverage on shares of Arco Platform in a report on Sunday, October 21st. They issued a “buy” rating and a $26.00 target price for the company. Morgan Stanley initiated coverage on shares of Arco Platform in a report on Monday, October 22nd. They issued an “overweight” rating and a $27.00 target price for the company. Itau BBA Securities initiated coverage on shares of Arco Platform in a report on Monday, October 22nd. They issued an “outperform” rating and a $27.00 target price for the company. Finally, UBS Group initiated coverage on shares of Arco Platform in a report on Wednesday, November 21st. They issued a “buy” rating and a $28.00 target price for the company.

Several hedge funds have recently made changes to their positions in ARCE. FMR LLC purchased a new stake in shares of Arco Platform in the third quarter valued at about $51,534,000. Jackson Square Partners LLC purchased a new stake in shares of Arco Platform in the third quarter valued at about $25,890,000. BlackRock Inc. purchased a new stake in shares of Arco Platform in the third quarter valued at about $23,039,000. Victory Capital Management Inc. purchased a new stake in shares of Arco Platform in the third quarter valued at about $13,431,000. Finally, Bamco Inc. NY purchased a new stake in shares of Arco Platform in the third quarter valued at about $8,388,000.

ARCE opened at $26.75 on Friday. Arco Platform has a 1-year low of $17.68 and a 1-year high of $27.47.

Arco Platform (NASDAQ:ARCE) last announced its earnings results on Tuesday, November 27th. The company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.16). The firm had revenue of $16.48 million for the quarter. Research analysts expect that Arco Platform will post 0.39 earnings per share for the current year.

About Arco Platform

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.

Read More: Capital Gains

Get a free copy of the Zacks research report on Arco Platform (ARCE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Arco Platform Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arco Platform and related companies with MarketBeat.com's FREE daily email newsletter.