Cantor Fitzgerald assumed coverage on shares of Square, Inc. (NYSE:SQ) in a research report released on Tuesday, September 12th, MarketBeat.com reports. The brokerage issued an overweight rating and a $31.00 price objective on the technology company’s stock.
Other equities analysts also recently issued reports about the company. Stifel Nicolaus restated a buy rating and issued a $23.00 price objective (up from $21.00) on shares of Square in a research report on Wednesday, May 17th. Royal Bank Of Canada restated a buy rating and issued a $24.00 price objective on shares of Square in a research report on Wednesday, May 17th. Tigress Financial initiated coverage on Square in a research report on Friday, May 19th. They issued a buy rating on the stock. Deutsche Bank AG boosted their price objective on Square from $19.00 to $21.00 and gave the company a buy rating in a research report on Monday, May 15th. Finally, Zacks Investment Research upgraded Square from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Tuesday, June 6th. Twelve research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $24.87.
Shares of Square (NYSE:SQ) traded up 1.23% during mid-day trading on Tuesday, reaching $28.75. The company had a trading volume of 4,841,490 shares. The stock’s market capitalization is $11.03 billion. Square has a one year low of $10.88 and a one year high of $29.00. The firm has a 50 day moving average of $26.00 and a 200-day moving average of $22.21.
Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The business had revenue of $240.00 million during the quarter, compared to analyst estimates of $228.64 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Square’s revenue for the quarter was up 40.4% on a year-over-year basis. Analysts forecast that Square will post $0.24 EPS for the current fiscal year.
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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction that occurred 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 legal filing with the SEC, which is available at this link. Also, CFO Sarah Friar sold 19,200 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $28.41, for a total value of $545,472.00. Following the completion of the transaction, the chief financial officer now directly owns 366,103 shares in the company, valued at approximately $10,400,986.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 972,800 shares of company stock worth $25,520,512. Insiders own 32.68% of the company’s stock.
A number of large investors have recently made changes to their positions in SQ. FMR LLC grew its stake in Square by 114.7% in the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after purchasing an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. grew its stake in Square by 73.4% in the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after purchasing an additional 8,058,892 shares in the last quarter. Renaissance Technologies LLC grew its stake in Square by 641.8% in the first quarter. Renaissance Technologies LLC now owns 8,578,500 shares of the technology company’s stock worth $148,236,000 after purchasing an additional 7,422,000 shares in the last quarter. BlackRock Inc. grew its stake in Square by 7,162.2% in the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock worth $93,023,000 after purchasing an additional 5,309,197 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Square by 556.5% in the second quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock worth $107,786,000 after purchasing an additional 3,894,639 shares in the last quarter. 82.00% of the stock is currently owned by institutional investors.
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.
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