Vetr upgraded shares of Square, Inc. (NYSE:SQ) from a hold rating to a buy rating in a research note issued to investors on Monday. Vetr currently has $32.51 target price on the technology company’s stock.
Several other brokerages also recently commented on SQ. Royal Bank Of Canada reissued a buy rating and issued a $31.00 target price on shares of Square in a report on Sunday, October 8th. Bank of America Corporation boosted their target price on Square from $29.00 to $31.00 and gave the stock a neutral rating in a report on Monday. Zacks Investment Research downgraded Square from a buy rating to a hold rating in a report on Wednesday, October 4th. KeyCorp boosted their target price on Square from $29.00 to $32.00 and gave the stock an overweight rating in a report on Tuesday, October 3rd. Finally, Tigress Financial reissued a buy rating on shares of Square in a report on Monday, September 25th. Thirteen research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Square currently has an average rating of Buy and an average target price of $26.11.
Square (SQ) traded down 0.5511% during mid-day trading on Monday, reaching $32.6292. The company had a trading volume of 2,167,215 shares. The stock’s market capitalization is $12.52 billion. The company’s 50 day moving average is $28.11 and its 200 day moving average is $23.68. Square has a 52-week low of $10.88 and a 52-week high of $33.22.
Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $240.00 million for the quarter, compared to the consensus estimate of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. Square’s revenue was up 40.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS. Equities analysts predict that Square will post $0.24 earnings per share for the current year.
In related news, CFO Sarah Friar sold 19,200 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $28.41, for a total value of $545,472.00. Following the completion of the sale, the chief financial officer now owns 366,103 shares in the company, valued at approximately $10,400,986.23. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the completion of the sale, the director now owns 507,385 shares of the company’s stock, valued at approximately $12,694,772.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 972,800 shares of company stock valued at $25,520,512. 32.68% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SQ. Pacer Advisors Inc. increased its position 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 in the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Square in the 2nd quarter valued at $117,000. Riverhead Capital Management LLC bought a new stake in shares of Square in the 2nd quarter valued at $149,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after buying an additional 1,099 shares in the last quarter. Finally, FNY Partners Fund LP increased its position in shares of Square by 55.4% in the 1st quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock valued at $174,000 after buying an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 53.83% of the company’s stock.
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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