Square, Inc. (SQ) PT Raised to $37.00
Square, Inc. (NYSE:SQ) had its target price hoisted by Barclays PLC from $28.00 to $37.00 in a research report report published on Thursday. They currently have an overweight rating on the technology company’s stock.
A number of other brokerages have also recently weighed in on SQ. Canaccord Genuity lifted their price target on Square from $26.00 to $33.00 and gave the stock a hold rating in a research note on Thursday. Stephens reissued an overweight rating and issued a $38.00 price target (up previously from $34.00) on shares of Square in a research note on Thursday. They noted that the move was a valuation call. Craig Hallum reissued a hold rating and issued a $33.00 price target (up previously from $23.00) on shares of Square in a research note on Thursday. SunTrust Banks, Inc. lifted their price target on Square to $35.00 and gave the stock a hold rating in a research note on Thursday. Finally, Cantor Fitzgerald lifted their price target on Square to $41.00 and gave the stock an overweight rating in a research note on Thursday. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Square currently has a consensus rating of Buy and a consensus price target of $32.17.
Square (SQ) traded up $1.25 during trading hours on Thursday, reaching $39.21. The company had a trading volume of 19,473,500 shares, compared to its average volume of 7,253,239. Square has a 1 year low of $11.43 and a 1 year high of $39.73. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.48.
Square (NYSE:SQ) last released its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. Square’s revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 earnings per share. sell-side analysts anticipate that Square will post -0.16 earnings per share for the current fiscal year.
In other news, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $32.81, for a total transaction of $1,259,904.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total value of $10,008,000.00. Following the sale, the director now owns 507,385 shares in the company, valued at $12,694,772.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,353,600 shares of company stock valued at $38,351,040. Corporate insiders own 32.68% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. bought a new stake in shares of Square during the second quarter valued at approximately $117,000. Hudock Capital Group LLC bought a new stake in shares of Square during the third quarter valued at approximately $157,000. Riverhead Capital Management LLC bought a new stake in shares of Square during the second quarter valued at approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Square by 19.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,099 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of Square during the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 53.24% 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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