Square, Inc. (SQ) Lifted to Buy at Goldman Sachs Group, Inc. (The)
Several other equities research analysts also recently weighed in on SQ. Deutsche Bank AG upped their target price on shares of Square to $28.00 and gave the stock a buy rating in a research note on Monday, July 24th. Piper Jaffray Companies reissued a hold rating and issued a $24.00 price objective on shares of Square in a research report on Wednesday, July 26th. Stifel Nicolaus reissued a buy rating and issued a $29.00 price objective (up from $23.00) on shares of Square in a research report on Sunday, July 30th. Zacks Investment Research raised shares of Square from a hold rating to a buy rating and set a $30.00 price objective on the stock in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada increased their price objective on shares of Square from $24.00 to $31.00 and gave the company an outperform rating in a research report on Thursday, August 3rd. Fourteen investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $32.94.
Square (NYSE:SQ) traded up $2.28 during trading on Thursday, hitting $44.18. 39,182,443 shares of the stock were exchanged, compared to its average volume of 11,865,894. Square has a twelve month low of $12.08 and a twelve month high of $45.74. 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 announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The firm had revenue of $257.12 million for the quarter, compared to the consensus estimate of $244.95 million. During the same period in the prior year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. research analysts forecast that Square will post -0.16 EPS for the current year.
In related news, insider Ajmere Dale sold 20,286 shares of the firm’s 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 sale, the insider now directly owns 134,518 shares of the company’s stock, valued at $5,262,344.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sarah Friar sold 19,200 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $25.54, for a total transaction 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 $9,350,270.62. The disclosure for this sale can be found here. Insiders have sold a total of 1,394,791 shares of company stock worth $45,611,401 over the last ninety days. 32.68% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Square by 114.7% in the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after acquiring an additional 12,764,491 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Square by 73.4% in the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after acquiring an additional 8,058,892 shares during the last quarter. Capital World Investors boosted its position in shares of Square by 32.8% in 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 last quarter. Allianz Asset Management GmbH boosted its position in shares of Square by 31.0% in the third quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock worth $383,235,000 after acquiring an additional 3,147,558 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Square by 5.8% in 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 last quarter. 53.24% of the stock is currently owned by institutional investors and hedge funds.
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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