Square, Inc. (NYSE:SQ) PT Raised to $31.00

Square, Inc. (NYSE:SQ) had its target price upped by Bank of America Corporation from $29.00 to $31.00 in a report released on Monday, October 9th. Bank of America Corporation currently has a neutral rating on the technology company’s stock.

A number of other research firms have also recently weighed in on SQ. Credit Suisse Group reaffirmed a neutral rating and issued a $26.00 price target (up previously from $25.00) on shares of Square in a report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed an outperform rating and issued a $31.00 price target (up previously from $24.00) on shares of Square in a report on Wednesday, August 9th. Canaccord Genuity upped their price target on Square from $18.00 to $26.00 and gave the stock a hold rating in a report on Thursday, August 3rd. Barclays PLC reaffirmed an overweight rating and issued a $28.00 price target (up previously from $21.00) on shares of Square in a report on Wednesday, August 9th. Finally, BidaskClub cut Square from a strong-buy rating to a buy rating in a report on Saturday, August 5th. Eleven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $26.57.

Square (NYSE SQ) opened at 32.50 on Monday. Square has a 1-year low of $11.00 and a 1-year high of $33.31. The company’s market cap is $12.47 billion. The stock has a 50 day moving average price of $29.35 and a 200 day moving average price of $24.34.

Square (NYSE:SQ) last issued its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $240.00 million for the quarter, compared to the consensus estimate of $228.64 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The company’s revenue was up 40.4% compared to the same quarter last year. On average, equities research analysts anticipate that Square will post $0.24 EPS for the current fiscal year.

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In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the completion of the transaction, the director now directly owns 507,385 shares in the company, valued at $13,811,019.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $25.58, for a total value of $982,272.00. Following the completion of the transaction, the chief financial officer now owns 366,103 shares of the company’s stock, valued at $9,364,914.74. The disclosure for this sale can be found here. Insiders sold 1,353,600 shares of company stock valued at $38,351,040 over the last quarter. 32.68% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQ. Great West Life Assurance Co. Can boosted its position in shares of Square by 43.4% during the first quarter. Great West Life Assurance Co. Can now owns 17,174 shares of the technology company’s stock worth $296,000 after buying an additional 5,200 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Square by 74.7% during the first quarter. UBS Asset Management Americas Inc. now owns 71,660 shares of the technology company’s stock worth $1,238,000 after buying an additional 30,652 shares during the period. Sei Investments Co. boosted its position in shares of Square by 2.2% during the first quarter. Sei Investments Co. now owns 78,757 shares of the technology company’s stock worth $1,360,000 after buying an additional 1,692 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Square by 54.9% during the first quarter. Ameriprise Financial Inc. now owns 381,841 shares of the technology company’s stock worth $6,598,000 after buying an additional 135,323 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Square by 10.7% during the first quarter. Parametric Portfolio Associates LLC now owns 207,209 shares of the technology company’s stock worth $3,581,000 after buying an additional 20,101 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.

About Square

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.

Analyst Recommendations for Square (NYSE:SQ)

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