Square (NYSE:SQ) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They currently have a $54.08 price objective on the technology company’s stock. Vetr‘s price objective suggests a potential upside of 3.03% from the stock’s previous close.
A number of other research analysts also recently commented on the stock. Goldman Sachs Group raised shares of Square to a “buy” rating in a report on Thursday, November 16th. Evercore ISI raised shares of Square from an “in-line” rating to an “outperform” rating and set a $51.00 target price on the stock in a research note on Friday, November 17th. Credit Suisse Group reissued a “positive” rating and issued a $37.00 price objective (up from $31.00) on shares of Square in a research report on Monday, November 20th. Nomura reissued a “buy” rating and issued a $64.00 price objective (up from $48.00) on shares of Square in a research report on Friday, January 19th. Finally, Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $42.62.
Square (SQ) opened at $52.49 on Monday. Square has a 1-year low of $16.11 and a 1-year high of $53.22. The company has a market cap of $20,400.00 and a PE ratio of -308.76. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46.
Square (NYSE:SQ) last announced its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. Square had a negative net margin of 2.84% and a negative return on equity of 6.60%. The firm had revenue of $616.04 million during the quarter, compared to the consensus estimate of $601.63 million. equities research analysts forecast that Square will post 0.02 earnings per share for the current fiscal year.
In related news, insider Hillary B. Smith sold 75,103 shares of Square stock in a transaction on Monday, December 18th. The shares were sold at an average price of $37.56, for a total value of $2,820,868.68. Following the completion of the sale, the insider now owns 563,798 shares in the company, valued at $21,176,252.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ajmere Dale sold 5,272 shares of Square stock in a transaction on Monday, March 5th. The stock was sold at an average price of $49.07, for a total transaction of $258,697.04. Following the completion of the sale, the insider now owns 106,533 shares of the company’s stock, valued at approximately $5,227,574.31. The disclosure for this sale can be found here. Insiders sold 1,094,377 shares of company stock worth $45,642,493 over the last three months. Corporate insiders own 32.68% of the company’s stock.
Several large investors have recently modified their holdings of SQ. Allianz Asset Management GmbH lifted its position in Square by 31.0% in the third quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock worth $383,235,000 after purchasing an additional 3,147,558 shares during the period. BlackRock Inc. increased its holdings in shares of Square by 18.4% during the 4th quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock worth $450,913,000 after acquiring an additional 2,024,019 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Square by 7.4% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,153,187 shares of the technology company’s stock worth $143,990,000 after acquiring an additional 284,712 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Square by 12.8% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,600,000 shares of the technology company’s stock worth $103,716,000 after acquiring an additional 409,800 shares during the last quarter. Finally, Columbus Circle Investors increased its holdings in shares of Square by 49.4% during the 3rd quarter. Columbus Circle Investors now owns 2,789,773 shares of the technology company’s stock worth $80,373,000 after acquiring an additional 922,214 shares during the last quarter. Institutional investors and hedge funds own 52.74% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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