Square, Inc. (NYSE:SQ)‘s stock had its “neutral” rating reaffirmed by investment analysts at BTIG Research in a research note issued on Thursday, September 7th.
A number of other brokerages have also weighed in on SQ. Piper Jaffray Companies reissued a “hold” rating and issued a $24.00 target price on shares of Square in a research report on Wednesday, July 26th. Deutsche Bank AG boosted their target price on Square to $28.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada boosted their price target on Square from $24.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Craig Hallum restated a “hold” rating and set a $23.00 price target (up from $18.00) on shares of Square in a research note on Thursday, August 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 price target (up from $20.00) on shares of Square in a research note on Thursday, August 3rd. Twelve investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $24.87.
Square (SQ) traded down 0.49% on Thursday, reaching $28.50. 19,504,752 shares of the company traded hands. Square has a 52-week low of $10.88 and a 52-week high of $28.80. The stock has a 50-day moving average price of $25.86 and a 200-day moving average price of $21.97. The firm’s market cap is $10.94 billion.
Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $240.00 million during the quarter, compared to analyst estimates of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. Square’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. Analysts anticipate that Square will post $0.24 earnings per share for the current fiscal year.
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In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’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 transaction, the director now owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $24.22, for a total value of $930,048.00. Following the transaction, the chief financial officer now directly owns 375,023 shares in the company, valued at approximately $9,083,057.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 953,600 shares of company stock valued at $24,816,064. 32.68% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of SQ. Pacer Advisors Inc. raised its holdings in shares of Square by 22.7% in the 1st quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after buying an additional 1,090 shares during the period. Glassman Wealth Services raised its holdings in shares of Square by 1,987.3% in the 1st quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock valued at $114,000 after buying an additional 6,260 shares during the period. Almanack Investment Partners LLC. purchased a new stake in shares of Square in the 2nd quarter valued at $117,000. Concert Wealth Management Inc. purchased a new stake in shares of Square in the 1st quarter valued at $144,000. Finally, Riverhead Capital Management LLC purchased a new stake in shares of Square in the 2nd quarter valued at $149,000. Hedge funds and other institutional investors own 82.02% 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.
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