Square, Inc. (NYSE:SQ) has received an average rating of “Buy” from the thirty-six ratings firms that are covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $26.69.
A number of analysts have weighed in on SQ shares. Bank of America Corporation started coverage on shares of Square in a research report on Tuesday, September 12th. They set a “neutral” rating for the company. Vetr raised shares of Square from a “buy” rating to a “strong-buy” rating and set a $26.28 target price for the company in a research report on Tuesday, July 4th. Citigroup Inc. increased their target price on shares of Square from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 6th. Cantor Fitzgerald started coverage on shares of Square in a research report on Tuesday, September 12th. They set an “overweight” rating and a $31.00 target price for the company. Finally, Stifel Nicolaus reissued a “buy” rating and set a $29.00 target price (up previously from $23.00) on shares of Square in a research report on Sunday, July 30th.
Shares of Square (NYSE:SQ) traded down 0.52% during midday trading on Friday, hitting $32.52. 5,476,224 shares of the company were exchanged. The company has a 50-day moving average of $28.42 and a 200 day moving average of $23.89. Square has a one year low of $10.88 and a one year high of $33.22. The company’s market capitalization is $12.48 billion.
Square (NYSE:SQ) last released its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $240.00 million during the quarter, compared to the consensus estimate of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The company’s revenue for the quarter was up 40.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. On average, equities research analysts expect that Square will post $0.24 earnings per share for the current fiscal year.
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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $27.22, for a total transaction of $10,888,000.00. Following the completion of the sale, the director now directly owns 507,385 shares of the company’s stock, valued at approximately $13,811,019.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $25.58, for a total value of $982,272.00. Following the sale, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at $9,364,914.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 953,600 shares of company stock worth $25,263,040. Company insiders own 32.68% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of Square by 22.7% during the 1st quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after purchasing an additional 1,090 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Square during the 2nd quarter valued at $117,000. Riverhead Capital Management LLC purchased a new stake in shares of Square during the 2nd quarter valued at $149,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Square by 19.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,099 shares during the last quarter. Finally, FNY Partners Fund LP increased its position in shares of Square by 55.4% during the 1st quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock valued at $174,000 after purchasing an additional 3,600 shares during the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.
Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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