Vetr upgraded shares of Square, Inc. (NYSE:SQ) from a hold rating to a buy rating in a research note issued to investors on Tuesday, October 17th. The firm currently has $34.27 price target on the technology company’s stock.
Several other equities research analysts have also recently commented on the stock. Credit Suisse Group boosted their price target on shares of Square from $25.00 to $26.00 and gave the stock a neutral rating in a research report on Thursday, August 3rd. Barclays PLC restated an overweight rating and set a $28.00 price objective (up from $21.00) on shares of Square in a research note on Thursday, August 3rd. Craig Hallum restated a hold rating and set a $23.00 price objective (up from $18.00) on shares of Square in a research note on Thursday, August 3rd. KeyCorp reiterated an overweight rating on shares of Square in a research note on Tuesday, July 18th. Finally, Wedbush began coverage on shares of Square in a research note on Thursday, August 3rd. They issued a neutral rating and a $28.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $26.75.
Shares of Square (SQ) opened at 35.20 on Tuesday. The firm’s market cap is $13.51 billion. The firm has a 50-day moving average price of $29.83 and a 200-day moving average price of $24.74. Square has a 52-week low of $11.00 and a 52-week high of $35.29.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The business’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. Analysts predict that Square will post $0.24 EPS for the current fiscal year.
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In other Square news, CFO Sarah Friar sold 19,200 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total value of $490,368.00. Following the completion of the sale, the chief financial officer now directly owns 366,103 shares in the company, valued at $9,350,270.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the completion of the sale, the director now owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,353,600 shares of company stock valued at $38,351,040. 32.68% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of SQ. Almanack Investment Partners LLC. acquired a new stake in Square in the second quarter worth $117,000. Riverhead Capital Management LLC bought a new position in shares of Square in the second quarter valued at $149,000. Hudock Capital Group LLC bought a new position in shares of Square in the third quarter valued at $157,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Square by 19.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after buying an additional 1,099 shares in the last quarter. Finally, FNY Partners Fund LP lifted its stake in shares of Square by 55.4% in the first quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock valued at $174,000 after buying an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 53.89% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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