Square Inc. (SQ) Given Market Perform Rating at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Square Inc. (NYSE:SQ) in a research report report published on Friday. Keefe, Bruyette & Woods currently has a $13.00 price objective on the stock.
SQ has been the subject of several other research reports. Jefferies Group restated a buy rating and issued a $15.00 price objective on shares of Square in a research report on Wednesday, September 28th. Vetr cut shares of Square from a strong-buy rating to a buy rating and set a $12.28 price objective for the company. in a research report on Monday, October 3rd. Zacks Investment Research upgraded shares of Square from a hold rating to a buy rating and set a $13.00 price objective for the company in a research report on Thursday. Stifel Nicolaus upgraded shares of Square from a hold rating to a buy rating and boosted their price objective for the stock from $8.06 to $15.00 in a research report on Monday, August 22nd. Finally, BTIG Research cut shares of Square from a buy rating to a neutral rating and dropped their price objective for the stock from $15.91 to $12.00 in a research report on Monday, August 29th. Fifteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $12.77.
Shares of Square (NYSE:SQ) traded up 0.4660% during mid-day trading on Friday, hitting $11.5335. The stock had a trading volume of 702,502 shares. Square has a 12-month low of $8.06 and a 12-month high of $15.91. The stock’s 50-day moving average price is $11.75 and its 200-day moving average price is $11.26. The stock’s market capitalization is $3.94 billion.
Square (NYSE:SQ) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. Square had a negative net margin of 14.85% and a negative return on equity of 37.14%. The company earned $439 million during the quarter, compared to analysts’ expectations of $406.93 million. The business’s revenue for the quarter was up 54.1% compared to the same quarter last year. On average, equities analysts anticipate that Square will post ($0.60) EPS for the current fiscal year.
In other Square news, insider Dana Wagner sold 6,953 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total value of $67,930.81. Following the sale, the insider now owns 271,315 shares in the company, valued at $2,650,747.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sarah Friar sold 2,690 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total transaction of $26,281.30. Following the completion of the sale, the chief financial officer now owns 114,402 shares in the company, valued at approximately $1,117,707.54. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Westwood Management Corp IL bought a new stake in shares of Square during the second quarter worth $362,000. Bollard Group LLC bought a new stake in shares of Square during the second quarter worth $1,810,000. Creative Planning raised its stake in shares of Square by 76.2% in the second quarter. Creative Planning now owns 14,719 shares of the company’s stock worth $133,000 after buying an additional 6,365 shares in the last quarter. Westend Capital Management LLC bought a new stake in shares of Square during the first quarter worth $1,355,000. Finally, A.R.T. Advisors LLC bought a new stake in shares of Square during the first quarter worth $4,052,000. Hedge funds and other institutional investors own 16.90% 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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