Square, Inc. (SQ) Price Target Increased to $44.00 by Analysts at Jefferies Group LLC
Square, Inc. (NYSE:SQ) had its price objective hoisted by Jefferies Group LLC from $38.00 to $44.00 in a research report sent to investors on Monday morning. They currently have a buy rating on the technology company’s stock.
Other analysts also recently issued reports about the company. Credit Suisse Group AG boosted their target price on Square from $25.00 to $26.00 and gave the company a neutral rating in a report on Thursday, August 3rd. Barclays PLC boosted their price target on Square from $28.00 to $37.00 and gave the company an overweight rating in a research report on Thursday, November 9th. Citigroup Inc. cut Square from a buy rating to a neutral rating and set a $38.00 price target on the stock. in a research report on Thursday, November 9th. Cantor Fitzgerald boosted their price target on Square to $41.00 and gave the company an overweight rating in a research report on Thursday, November 9th. Finally, Canaccord Genuity boosted their price target on Square from $26.00 to $33.00 and gave the company a hold rating in a research report on Thursday, November 9th. Fourteen analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $32.28.
Square (SQ) traded up $0.77 during trading on Monday, hitting $39.98. The stock had a trading volume of 14,398,300 shares, compared to its average volume of 7,285,865. Square has a fifty-two week low of $11.76 and a fifty-two week high of $40.19. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.
Square (NYSE:SQ) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. During the same period in the previous year, the business earned $0.01 EPS. The business’s quarterly revenue was up 44.6% on a year-over-year basis. equities research analysts expect that Square will post -0.16 EPS for the current year.
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In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $32.72, for a total value of $13,088,000.00. Following the sale, the director now owns 507,732 shares of the company’s stock, valued at approximately $16,612,991.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sarah Friar sold 19,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total value of $490,368.00. Following the completion of the sale, the chief financial officer now directly owns 366,103 shares in the company, valued at approximately $9,350,270.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 953,600 shares of company stock worth $28,343,040. Insiders own 32.68% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SQ. Almanack Investment Partners LLC. purchased a new stake in Square in the 2nd quarter valued at approximately $117,000. Riverhead Capital Management LLC purchased a new stake in Square in the 2nd quarter valued at approximately $149,000. Hudock Capital Group LLC purchased a new stake in Square in the 3rd quarter valued at approximately $157,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after buying an additional 1,099 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Square by 42.2% in the 2nd quarter. Pacer Advisors Inc. now owns 8,368 shares of the technology company’s stock valued at $196,000 after buying an additional 2,485 shares in the last quarter. 53.24% of the stock is currently owned by hedge funds and other 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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