Square, Inc. (SQ) Lowered to Hold at Vetr Inc.
Square, Inc. (NYSE:SQ) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They presently have a $45.60 price objective on the technology company’s stock. Vetr‘s target price would suggest a potential upside of 3.21% from the stock’s previous close.
A number of other equities analysts have also issued reports on the stock. Evercore ISI raised shares of Square from an “in-line” rating to an “outperform” rating and set a $51.00 target price on the stock in a research report on Friday. Nomura boosted their target price on shares of Square from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. Goldman Sachs Group, Inc. (The) raised shares of Square to a “buy” rating in a research report on Thursday. Zacks Investment Research lowered shares of Square from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Jefferies Group LLC boosted their target price on shares of Square from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Fifteen investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $33.00.
Square (NYSE:SQ) opened at $44.18 on Monday. Square has a 52-week low of $12.08 and a 52-week high of $45.74. 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 announced its earnings results 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. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The business had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Square’s revenue was up 44.6% compared to the same quarter last year. research analysts forecast that Square will post -0.16 earnings per share for the current year.
In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $27.22, for a total transaction of $10,888,000.00. Following the transaction, the director now owns 507,385 shares in the company, valued at approximately $13,811,019.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sarah Friar sold 19,200 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $25.54, for a total transaction of $490,368.00. Following the transaction, the chief financial officer now 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 quarter, insiders have sold 1,394,791 shares of company stock worth $45,611,401. 32.68% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SQ. FMR LLC lifted its position in Square by 114.7% during the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after purchasing an additional 12,764,491 shares during the period. Vanguard Group Inc. lifted its position in Square by 73.4% during the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after purchasing an additional 8,058,892 shares during the period. Capital World Investors lifted its position in Square by 32.8% during the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after purchasing an additional 3,853,000 shares during the period. Allianz Asset Management GmbH lifted its position in Square by 31.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock valued at $383,235,000 after purchasing an additional 3,147,558 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Square by 5.8% during the 2nd quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock valued at $212,937,000 after purchasing an additional 498,100 shares during the period. Institutional investors and hedge funds own 53.64% of the company’s stock.
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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