Stifel Nicolaus Raises Square, Inc. (SQ) Price Target to $37.00
Square, Inc. (NYSE:SQ) had its price objective upped by Stifel Nicolaus from $36.00 to $37.00 in a research note released on Thursday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the technology company’s stock.
A number of other research firms have also recently issued reports on SQ. Royal Bank Of Canada upped their price target on shares of Square from $31.00 to $41.00 and gave the company an outperform rating in a report on Thursday. They noted that the move was a valuation call. Guggenheim upgraded shares of Square from a neutral rating to a buy rating and set a $44.00 price target for the company in a report on Thursday. Citigroup Inc. cut shares of Square from a buy rating to a neutral rating and set a $38.00 price target for the company. in a report on Thursday. KeyCorp restated an overweight rating and set a $40.00 price target (up from $35.00) on shares of Square in a report on Monday, November 6th. Finally, Deutsche Bank AG upped their price target on shares of Square to $37.00 and gave the company a buy rating in a report on Tuesday, October 31st. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $31.67.
Square (SQ) traded up $1.25 during midday trading on Thursday, hitting $39.21. 19,473,400 shares of the stock were exchanged, compared to its average volume of 9,402,780. Square has a 1-year low of $11.43 and a 1-year high of $39.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.30 and a current ratio of 1.81.
Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The firm had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. Square’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. sell-side analysts predict that Square will post -0.16 EPS for the current year.
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In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total value of $13,088,000.00. Following the transaction, the director now directly owns 507,732 shares of the company’s stock, valued at $16,612,991.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $25.58, for a total transaction of $982,272.00. Following the transaction, the chief financial officer now directly owns 366,103 shares in the company, valued at $9,364,914.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,353,600 shares of company stock worth $38,351,040. Insiders own 32.68% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position 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 worth $560,427,000 after purchasing an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. boosted its position 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 worth $446,558,000 after purchasing an additional 8,058,892 shares in the last quarter. Capital World Investors raised its holdings 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 worth $365,925,000 after acquiring an additional 3,853,000 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Square by 5.8% during the second quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock worth $212,937,000 after acquiring an additional 498,100 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Square by 23.0% during the second quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock worth $155,282,000 after acquiring an additional 1,235,662 shares during the period. 53.91% of the stock is currently owned by institutional investors.
Square Company Profile
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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