Square, Inc. (SQ) Receives “Hold” Rating from Keefe, Bruyette & Woods
Square, Inc. (NYSE:SQ)‘s stock had its “hold” rating restated by analysts at Keefe, Bruyette & Woods in a research report issued on Thursday, July 6th. They presently have a $19.50 price target on the technology company’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 22.68% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. Royal Bank Of Canada reduced their target price on shares of Square to $18.00 and set a “buy” rating on the stock in a research note on Monday, April 24th. Zacks Investment Research downgraded shares of Square from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 25th. Guggenheim downgraded shares of Square from a “buy” rating to a “neutral” rating and upped their price target for the stock from $19.00 to $20.00 in a research report on Thursday, May 4th. They noted that the move was a valuation call. Instinet upped their price target on shares of Square from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, BTIG Research reiterated a “neutral” rating and set a $20.00 price target (down previously from $21.00) on shares of Square in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.60.
Shares of Square (NYSE:SQ) traded down 0.04% during trading on Thursday, reaching $25.21. 7,913,474 shares of the company’s stock traded hands. The stock has a 50-day moving average of $24.96 and a 200-day moving average of $19.56. The company’s market capitalization is $9.49 billion. Square has a 1-year low of $10.01 and a 1-year high of $27.97. Square also saw some unusual options trading activity on Thursday. Stock investors bought 15,478 call options on the stock. This represents an increase of approximately 273% compared to the typical daily volume of 4,147 call options.
Square (NYSE:SQ) last issued its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 13.13%. The company had revenue of $240 million for the quarter, compared to the consensus estimate of $228.64 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 40.4% compared to the same quarter last year. On average, equities analysts predict that Square will post $0.17 EPS for the current fiscal year.
In other Square news, Director James Morgan Jr. Mckelvey sold 90,000 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $23.36, for a total transaction of $2,102,400.00. Following the transaction, the director now owns 186,308 shares in the company, valued at approximately $4,352,154.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack Dorsey sold 381,500 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $20.42, for a total value of $7,790,230.00. The disclosure for this sale can be found here. Insiders have sold a total of 914,900 shares of company stock worth $20,202,610 in the last quarter. Company insiders own 32.68% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Square by 72.1% in the first quarter. Bank of New York Mellon Corp now owns 14,480,815 shares of the technology company’s stock worth $250,229,000 after buying an additional 6,065,730 shares during the last quarter. FMR LLC boosted its position in shares of Square by 24.4% in the first quarter. FMR LLC now owns 11,124,126 shares of the technology company’s stock worth $192,225,000 after buying an additional 2,183,127 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Square by 2.3% in the first quarter. Vanguard Group Inc. now owns 10,975,970 shares of the technology company’s stock worth $189,665,000 after buying an additional 241,563 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Square by 641.8% in the first quarter. Renaissance Technologies LLC now owns 8,578,500 shares of the technology company’s stock worth $148,236,000 after buying an additional 7,422,000 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Square by 7,162.2% in the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock worth $93,023,000 after buying an additional 5,309,197 shares during the last quarter. Institutional investors own 75.60% of the company’s stock.
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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