Square Inc. (SQ) Downgraded by Vetr Inc. to Hold
Vetr downgraded shares of Square Inc. (NYSE:SQ) from a buy rating to a hold rating in a research note published on Monday morning. They currently have $11.46 price target on the stock.
Other equities analysts have also issued research reports about the company. Royal Bank Of Canada reiterated a buy rating on shares of Square in a research note on Friday, June 17th. SunTrust Banks Inc. lifted their target price on Square from $11.00 to $13.00 and gave the stock a neutral rating in a report on Thursday, August 4th. Evercore ISI lifted their target price on Square from $7.00 to $8.00 and gave the stock a hold rating in a report on Thursday, August 4th. BTIG Research reaffirmed a buy rating and set a $12.00 target price on shares of Square in a report on Thursday, August 4th. Finally, Morgan Stanley reissued an equal weight rating and issued a $10.00 price objective (down from $12.00) on shares of Square in a research note on Thursday, June 30th. Sixteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Square has a consensus rating of Hold and a consensus price target of $12.74.
Square (NYSE:SQ) traded down 1.05% during trading on Monday, reaching $11.35. The company’s stock had a trading volume of 299,951 shares. The company’s 50 day moving average price is $11.74 and its 200-day moving average price is $11.23. The stock’s market cap is $3.88 billion. Square has a 1-year low of $8.06 and a 1-year high of $15.91.
Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, topping the Zacks’ 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 firm had revenue of $439 million for the quarter, compared to analyst estimates of $406.93 million. The business’s revenue for the quarter was up 54.1% on a year-over-year basis. Equities analysts forecast that Square will post ($0.60) earnings per share for the current fiscal year.
In other Square news, insider Dana Wagner sold 6,953 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total transaction of $67,930.81. Following the sale, the insider now owns 271,315 shares in the company, valued at $2,650,747.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sarah Friar sold 2,690 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total value of $26,281.30. Following 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. 42.60% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. State Treasurer State of Michigan bought a new stake in Square during the second quarter valued at about $102,710,000. Vanguard Group Inc. increased its stake in Square by 72.6% in the second quarter. Vanguard Group Inc. now owns 2,606,190 shares of the company’s stock valued at $23,586,000 after buying an additional 1,095,830 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in Square during the first quarter valued at about $20,557,000. FMR LLC increased its stake in Square by 8.7% in the second quarter. FMR LLC now owns 1,190,800 shares of the company’s stock valued at $10,777,000 after buying an additional 95,600 shares in the last quarter. Finally, Rizvi Traverse Management LLC increased its stake in Square by 2,286.1% in the second quarter. Rizvi Traverse Management LLC now owns 1,048,620 shares of the company’s stock valued at $9,490,000 after buying an additional 1,004,673 shares in the last quarter. Hedge funds and other institutional investors own 16.90% of the company’s stock.
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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