Square Inc. (SQ) Given Average Recommendation of “Hold” by Analysts
Square Inc. (NYSE:SQ) has been assigned a consensus rating of “Hold” from the twenty-eight brokerages that are currently covering the firm. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $12.59.
SQ has been the subject of a number of recent analyst reports. Jefferies Group restated a “buy” rating and issued a $15.00 target price on shares of Square in a report on Wednesday, September 28th. Vetr downgraded shares of Square from a “strong-buy” rating to a “buy” rating and set a $12.28 target price for the company. in a 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 target price for the company in a report on Thursday, October 6th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $13.00 target price on shares of Square in a report on Friday, October 7th. Finally, Stifel Nicolaus upgraded shares of Square from a “hold” rating to a “buy” rating and boosted their target price for the company from $8.06 to $15.00 in a report on Monday, August 22nd.
Shares of Square (NYSE:SQ) traded down 0.72% during midday trading on Wednesday, hitting $11.10. The stock had a trading volume of 1,289,379 shares. The stock’s market cap is $3.79 billion. Square has a 1-year low of $8.06 and a 1-year high of $15.91. The firm’s 50-day moving average price is $11.72 and its 200-day moving average price is $11.23.
Square (NYSE:SQ) last released 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 firm earned $439 million during the quarter, compared to the consensus estimate of $406.93 million. Square’s revenue was up 54.1% on a year-over-year basis. Analysts forecast that Square will post ($0.60) earnings per share for the current year.
In other news, insider Francoise Brougher sold 57,692 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $12.00, for a total transaction of $692,304.00. Following the completion of the transaction, the insider now owns 164,977 shares in the company, valued at $1,979,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sarah Friar sold 2,690 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total transaction of $26,281.30. Following the transaction, the chief financial officer now owns 114,402 shares of the company’s stock, valued at approximately $1,117,707.54. The disclosure for this sale can be found here. Company insiders own 42.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. State Treasurer State of Michigan purchased a new position in Square during the second quarter valued at approximately $102,710,000. Loomis Sayles & Co. L P purchased a new position in Square during the first quarter valued at approximately $20,557,000. Vanguard Group Inc. raised its position 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. Rizvi Traverse Management LLC raised its position 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. Finally, Point72 Asset Management L.P. purchased a new position in Square during the second quarter valued at approximately $7,345,000. Institutional investors and hedge funds 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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