Square Inc. (SQ) Rating Increased to Overweight at KeyCorp
Square Inc. (NYSE:SQ) was upgraded by equities research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday.
SQ has been the subject of a number of other reports. Vetr downgraded Square from a “buy” rating to a “hold” rating and set a $9.34 price objective for the company. in a research note on Monday, July 18th. BTIG Research set a $12.00 price objective on Square and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Compass Point upped their price objective on Square from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Barclays PLC restated an “overweight” rating and set a $15.00 price objective on shares of Square in a research note on Thursday, August 4th. Finally, Canaccord Genuity upped their price objective on Square from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, August 4th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Square currently has an average rating of “Buy” and a consensus target price of $13.01.
Square (NYSE:SQ) traded down 0.790% on Monday, hitting $11.935. The stock had a trading volume of 376,683 shares. The company’s market cap is $4.20 billion. Square has a one year low of $8.06 and a one year high of $15.91. The stock has a 50-day moving average of $11.52 and a 200-day moving average of $10.80.
Square (NYSE:SQ) last posted its quarterly earnings results on Tuesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. The business had revenue of $439 million for the quarter, compared to analyst estimates of $374.36 million. Square had a negative return on equity of 31.99% and a negative net margin of 12.55%. The firm’s quarterly revenue was up 50.9% on a year-over-year basis. Equities analysts expect that Square will post ($0.55) earnings per share for the current fiscal year.
In other news, insider Dana Wagner sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $12.27, for a total transaction of $613,500.00. Following the completion of the sale, the insider now directly owns 321,315 shares of the company’s stock, valued at approximately $3,942,535.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sarah Friar sold 2,704 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $11.05, for a total value of $29,879.20. Following the sale, the chief financial officer now directly owns 111,698 shares of the company’s stock, valued at $1,234,262.90. The disclosure for this sale can be found here. 42.60% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of SQ. Cambridge Investment Research Advisors Inc. purchased a new stake in Square during the second quarter worth $107,000. Ancora Inverness LLC bought a new position in shares of Square during the second quarter worth approximately $109,000. The Manufacturers Life Insurance Company bought a new position in shares of Square during the third quarter worth approximately $112,000. Emerald Acquisition Ltd. bought a new position in shares of Square during the second quarter worth approximately $115,000. Finally, Passport Capital LLC bought a new position in shares of Square during the second quarter worth approximately $116,000. 20.66% of the stock is owned by institutional investors.
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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