Square (NYSE:SQ)‘s stock had its “buy” rating reaffirmed by stock analysts at Nomura in a report released on Friday. They presently have a $64.00 price objective on the technology company’s stock, up from their previous price objective of $48.00. Nomura’s target price would suggest a potential upside of 50.38% from the stock’s previous close.
SQ has been the subject of several other research reports. Morgan Stanley boosted their price target on shares of Square from $26.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, December 19th. They noted that the move was a valuation call. Citigroup boosted their price target on shares of Square from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Goldman Sachs Group raised shares of Square to a “buy” rating in a report on Thursday, November 16th. Oppenheimer initiated coverage on shares of Square in a report on Thursday, October 12th. They issued an “outperform” rating and a $35.00 price target for the company. Finally, Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $35.83.
Square (NYSE:SQ) opened at $42.56 on Friday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48. Square has a 12 month low of $13.84 and a 12 month high of $49.56. The stock has a market cap of $16,540.00 and a price-to-earnings ratio of -250.35.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $257.12 million during the quarter, compared to analyst estimates of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The firm’s revenue was up 44.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. research analysts anticipate that Square will post -0.15 earnings per share for the current year.
In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $39.79, for a total transaction of $15,916,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the business’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 directly owns 355,566 shares in the company, valued at approximately $16,796,937.84. The disclosure for this sale can be found here. Insiders have sold 1,631,132 shares of company stock valued at $63,618,154 in the last ninety days. Insiders own 32.68% of the company’s stock.
Several hedge funds have recently made changes to their positions in SQ. Schwab Charles Investment Management Inc. boosted its position in shares of Square by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock valued at $1,084,000 after acquiring an additional 513 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Square by 178.4% during the 2nd quarter. Legal & General Group Plc now owns 79,452 shares of the technology company’s stock valued at $1,864,000 after acquiring an additional 50,912 shares during the last quarter. Comerica Bank acquired a new position in shares of Square during the 2nd quarter valued at about $240,000. Neuberger Berman Group LLC boosted its position in shares of Square by 2.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock valued at $240,000 after acquiring an additional 212 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Square by 299.3% during the 2nd quarter. Principal Financial Group Inc. now owns 53,031 shares of the technology company’s stock valued at $1,244,000 after acquiring an additional 39,749 shares during the last quarter. 54.21% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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