Square Inc (NYSE:SQ) had its price objective raised by Stephens from $20.00 to $22.00 in a report published on Friday, May 5th. Stephens currently has an overweight rating on the technology company’s stock.
SQ has been the topic of several other research reports. Compass Point boosted their price target on shares of Square from $14.00 to $19.00 and gave the company a buy rating in a report on Tuesday, January 10th. Mizuho restated a buy rating on shares of Square in a research note on Monday, March 20th. Instinet boosted their target price on shares of Square from $18.00 to $21.00 and gave the company a buy rating in a research note on Monday, March 6th. Zacks Investment Research downgraded shares of Square from a buy rating to a hold rating in a research note on Thursday, January 5th. Finally, Citigroup Inc began coverage on shares of Square in a research report on Friday, February 17th. They set a buy rating and a $20.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $18.51.
Shares of Square (NYSE:SQ) traded up 1.17% during mid-day trading on Friday, hitting $19.91. 2,716,460 shares of the stock were exchanged. The stock’s market cap is $7.45 billion. The company has a 50-day moving average of $18.25 and a 200 day moving average of $15.45. Square has a one year low of $8.42 and a one year high of $20.69.
Square (NYSE:SQ) last announced its earnings results on Wednesday, May 3rd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.05. Square had a negative net margin of 12.55% and a negative return on equity of 31.99%. The business had revenue of $461.55 million for the quarter, compared to analyst estimates of $450.66 million. On average, equities analysts predict that Square will post ($0.19) earnings per share for the current year.
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In other Square news, insider Alyssa Henry sold 5,406 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $18.23, for a total value of $98,551.38. Following the transaction, the insider now directly owns 475,238 shares of the company’s stock, valued at approximately $8,663,588.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack Dorsey sold 381,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $20.42, for a total transaction of $7,790,230.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,183,338 shares of company stock worth $56,299,960. 42.60% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its stake in Square by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock valued at $175,000 after buying an additional 30 shares during the period. Stifel Financial Corp increased its stake in Square by 1.8% in the first quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock valued at $461,000 after buying an additional 473 shares during the period. First Mercantile Trust Co. increased its stake in Square by 2.2% in the first quarter. First Mercantile Trust Co. now owns 31,641 shares of the technology company’s stock valued at $547,000 after buying an additional 690 shares during the period. Guggenheim Capital LLC increased its stake in Square by 4.0% in the fourth quarter. Guggenheim Capital LLC now owns 18,680 shares of the technology company’s stock valued at $255,000 after buying an additional 727 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Square by 6.7% in the third quarter. PNC Financial Services Group Inc. now owns 15,940 shares of the technology company’s stock valued at $187,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 24.28% 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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