Square, Inc. (SQ) PT Raised to $48.00 at Nomura
Square, Inc. (NYSE:SQ) had its price target hoisted by equities research analysts at Nomura from $45.00 to $48.00 in a research report issued on Thursday. The brokerage presently has a “buy” rating on the technology company’s stock. Nomura’s price objective suggests a potential upside of 8.65% from the stock’s current price.
SQ has been the subject of several other reports. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, August 1st. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $30.12 price objective for the company. in a report on Tuesday, September 12th. Credit Suisse Group increased their price objective on Square from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, August 3rd. Cantor Fitzgerald increased their price objective on Square to $41.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $24.00 price objective on shares of Square in a report on Wednesday, July 26th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $32.37.
Shares of Square (NYSE SQ) opened at $44.18 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81. Square has a 12 month low of $12.08 and a 12 month high of $45.74.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The company’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. equities analysts anticipate that Square will post -0.16 earnings per share for the current fiscal year.
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In related news, insider Ajmere Dale sold 20,286 shares of Square stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $39.12, for a total value of $793,588.32. Following the completion of the transaction, the insider now directly owns 134,518 shares in the company, valued at approximately $5,262,344.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hillary B. Smith sold 3,459 shares of Square stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $38.95, for a total transaction of $134,728.05. Following the completion of the transaction, the insider now owns 641,154 shares of the company’s stock, valued at $24,972,948.30. The disclosure for this sale can be found here. Insiders sold a total of 1,394,791 shares of company stock valued at $45,611,401 over the last quarter. 32.68% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Raymond James Trust N.A. boosted its holdings in Square by 1.3% in the 2nd quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock valued at $357,000 after purchasing an additional 193 shares during the period. Neuberger Berman Group LLC boosted its holdings in Square by 2.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock valued at $240,000 after purchasing an additional 212 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Square by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock valued at $1,084,000 after purchasing an additional 513 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Square by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,706 shares of the technology company’s stock valued at $274,000 after purchasing an additional 921 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 purchasing an additional 1,099 shares during the period. 53.24% of the stock is owned by hedge funds and other institutional investors.
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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