Square Inc. (SQ) Given Buy Rating at Jefferies Group
Several other equities analysts have also issued reports on SQ. Craig Hallum initiated coverage on Square in a research report on Wednesday, June 15th. They set a hold rating and a $7.50 price target on the stock. Royal Bank Of Canada restated a buy rating on shares of Square in a research report on Friday, June 17th. BTIG Research restated a buy rating and set a $12.00 price target on shares of Square in a research report on Monday, June 20th. Evercore ISI initiated coverage on Square in a research report on Tuesday, June 21st. They set a hold rating and a $7.00 price target on the stock. Finally, Vetr lowered Square from a strong-buy rating to a buy rating and set a $10.20 price target on the stock. in a research report on Tuesday, June 21st. Fifteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Square presently has an average rating of Buy and a consensus target price of $12.81.
Shares of Square (NYSE:SQ) traded down 1.44% during trading on Wednesday, hitting $11.66. The stock had a trading volume of 449,084 shares. Square has a 52 week low of $8.06 and a 52 week high of $15.91. The stock’s market capitalization is $3.98 billion. The firm has a 50 day moving average price of $11.73 and a 200-day moving average price of $11.28.
Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The business had revenue of $439 million for the quarter, compared to analyst estimates of $406.93 million. The firm’s revenue was up 54.1% on a year-over-year basis. On average, equities research analysts forecast that Square will post ($0.60) EPS for the current fiscal year.
In related news, insider Dana Wagner sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $12.27, for a total value of $613,500.00. Following the sale, the insider now directly owns 321,315 shares in the company, valued at $3,942,535.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $11.27, for a total value of $4,508,000.00. Following the completion of the sale, the director now owns 424,837 shares in the company, valued at $4,787,912.99. The disclosure for this sale can be found here. 42.60% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Square by 41.9% in the second quarter. Royal Bank of Canada now owns 132,192 shares of the company’s stock worth $1,197,000 after buying an additional 39,020 shares during the period. Calvert Investment Management Inc. bought a new stake in shares of Square during the second quarter worth about $163,000. Schwab Charles Investment Management Inc. increased its stake in shares of Square by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 45,636 shares of the company’s stock worth $414,000 after buying an additional 1,512 shares during the period. Stifel Financial Corp bought a new stake in shares of Square during the second quarter worth about $208,000. Finally, American Century Companies Inc. bought a new stake in shares of Square during the second quarter worth about $183,000. Institutional investors and hedge funds own 16.89% of the company’s stock.
Square Company Profile
Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.
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