Barclays Reiterates Buy Rating for Square (SQ)
Square (NYSE:SQ)‘s stock had its “buy” rating reissued by research analysts at Barclays in a research report issued on Friday. They currently have a $43.00 price objective on the technology company’s stock. Barclays’ price target would indicate a potential upside of 4.52% from the company’s current price.
SQ has been the subject of several other reports. BTIG Research restated a “neutral” rating on shares of Square in a report on Thursday, September 7th. Vetr lowered shares of Square from a “strong-buy” rating to a “buy” rating and set a $30.12 price target on the stock. in a research report on Tuesday, September 12th. Bank of America assumed coverage on shares of Square in a research report on Tuesday, September 12th. They issued a “neutral” rating on the stock. Cantor Fitzgerald assumed coverage on shares of Square in a research report on Tuesday, September 12th. They set an “overweight” rating and a $31.00 target price on the stock. Finally, Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $34.83.
Shares of Square (SQ) traded up $3.04 on Friday, hitting $41.14. 31,102,014 shares of the stock traded hands, compared to its average volume of 23,360,000. The firm has a market cap of $15,990.00 and a PE ratio of -242.00. 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 $13.84 and a 12 month high of $49.56.
In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total transaction of $13,088,000.00. Following the transaction, the director now owns 507,732 shares in the company, valued at approximately $16,612,991.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $32.81, for a total transaction of $1,259,904.00. The disclosure for this sale can be found here. Insiders sold a total of 1,668,081 shares of company stock worth $61,992,018 in the last 90 days. 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 the stock. Atlantic Trust Group LLC acquired a new position in Square during the 3rd quarter worth about $1,143,000. Neuberger Berman Group LLC lifted its position in Square by 5,187.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 540,000 shares of the technology company’s stock worth $15,557,000 after buying an additional 529,788 shares in the last quarter. California Public Employees Retirement System raised its holdings in Square by 4.1% during the 3rd quarter. California Public Employees Retirement System now owns 368,151 shares of the technology company’s stock worth $10,606,000 after purchasing an additional 14,451 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Square by 256.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 59,112 shares of the technology company’s stock worth $1,701,000 after purchasing an additional 42,506 shares during the last quarter. Finally, Whale Rock Capital Management LLC bought a new stake in Square during the 3rd quarter worth about $44,337,000. Institutional investors and hedge funds own 54.20% of the company’s stock.
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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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