Vetr upgraded shares of Square (NYSE:SQ) from a hold rating to a buy rating in a report released on Thursday, November 23rd. They currently have $51.38 price objective on the technology company’s stock.
Several other equities analysts have also recently commented on SQ. Goldman Sachs Group upgraded shares of Square to a buy rating in a research note on Thursday, November 16th. Evercore ISI upgraded shares of Square from an in-line rating to an outperform rating and set a $51.00 target price for the company in a research note on Friday, November 17th. Stephens reiterated an overweight rating and set a $38.00 target price (up from $34.00) on shares of Square in a research note on Thursday, November 9th. They noted that the move was a valuation call. Guggenheim upgraded shares of Square from a neutral rating to a buy rating and set a $44.00 target price for the company in a research note on Thursday, November 9th. Finally, Canaccord Genuity upped their target price on shares of Square from $26.00 to $33.00 and gave the company a hold rating in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $33.82.
Shares of Square (SQ) opened at $36.87 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81. Square has a one year low of $13.03 and a one year high of $49.56.
Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The business had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. During the same period in the previous year, the company earned $0.01 earnings per share. Square’s revenue for the quarter was up 44.6% on a year-over-year basis. sell-side analysts forecast that Square will post -0.16 EPS for the current fiscal year.
In other Square news, insider Hillary B. Smith sold 3,459 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $38.95, for a total transaction of $134,728.05. Following the transaction, the insider now directly owns 641,154 shares in the company, valued at approximately $24,972,948.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $47.24, for a total transaction of $1,814,016.00. Following the transaction, the chief financial officer now owns 355,566 shares in the company, valued at $16,796,937.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,425,591 shares of company stock worth $47,976,777. Insiders own 32.68% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Almanack Investment Partners LLC. acquired a new position in Square during the 2nd quarter valued at about $117,000. Riverhead Capital Management LLC acquired a new position in Square during the 2nd quarter valued at about $149,000. Hudock Capital Group LLC acquired a new position in Square during the 3rd quarter valued at about $157,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,099 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Square by 42.2% in the 2nd quarter. Pacer Advisors Inc. now owns 8,368 shares of the technology company’s stock valued at $196,000 after acquiring an additional 2,485 shares during the period. Institutional investors own 54.31% of the company’s stock.
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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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