Square, Inc. (SQ) Price Target Increased to $41.00 by Analysts at Oppenheimer Holdings, Inc.
Square, Inc. (NYSE:SQ) had its price target raised by Oppenheimer Holdings, Inc. from $35.00 to $41.00 in a report issued on Friday morning. They currently have an outperform rating on the technology company’s stock.
A number of other research analysts have also commented on SQ. KeyCorp reiterated an overweight rating on shares of Square in a report on Tuesday, July 18th. Zacks Investment Research lowered Square from a buy rating to a hold rating in a report on Tuesday, July 18th. Deutsche Bank AG upped their price target on Square to $28.00 and gave the stock a buy rating in a report on Monday, July 24th. Piper Jaffray Companies reiterated a hold rating and set a $24.00 price target on shares of Square in a report on Wednesday, July 26th. Finally, Stifel Nicolaus restated a buy rating and set a $29.00 price objective (up from $23.00) on shares of Square in a research report on Sunday, July 30th. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $31.67.
Shares of Square (NYSE SQ) traded up $1.25 during mid-day trading on Friday, hitting $39.21. The stock had a trading volume of 19,473,400 shares, compared to its average volume of 7,253,239. Square has a one year low of $11.43 and a one year high of $39.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 2.30.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The company had revenue of $257.12 million during the quarter, compared to analyst estimates of $244.95 million. During the same period in the previous year, the company earned $0.01 earnings per share. The company’s quarterly revenue was up 44.6% compared to the same quarter last year. equities analysts anticipate that Square will post -0.16 earnings per share for the current fiscal year.
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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the transaction, the director now owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $32.81, for a total value of $1,259,904.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,353,600 shares of company stock worth $38,351,040. Insiders own 32.68% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SQ. FMR LLC lifted its stake in shares of Square by 114.7% during the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after acquiring an additional 12,764,491 shares during the period. Vanguard Group Inc. lifted its stake in shares of Square by 73.4% during the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after acquiring an additional 8,058,892 shares during the period. BlackRock Inc. lifted its stake in shares of Square by 7,162.2% during the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock valued at $93,023,000 after acquiring an additional 5,309,197 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Square by 556.5% during the second quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock valued at $107,786,000 after acquiring an additional 3,894,639 shares during the period. Finally, Capital World Investors lifted its stake in shares of Square by 32.8% during the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after acquiring an additional 3,853,000 shares during the period. 53.91% of the stock is currently owned by institutional investors and hedge funds.
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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