Instinet Boosts Square Inc (SQ) Price Target to $22.00

Square Inc (NYSE:SQ) had its target price raised by Instinet from $21.00 to $22.00 in a research report report published on Thursday, May 4th. Instinet currently has a buy rating on the technology company’s stock.

SQ has been the topic of a number of other research reports. Stifel Nicolaus reissued a buy rating and set a $18.00 price objective (up previously from $15.00) on shares of Square in a report on Thursday, February 23rd. Vetr lowered shares of Square from a strong-buy rating to a buy rating and set a $19.66 price objective on the stock. in a report on Thursday, April 20th. Canaccord Genuity reaffirmed a hold rating and issued a $16.00 target price (up previously from $14.00) on shares of Square in a research note on Tuesday, February 21st. Royal Bank of Canada raised their target price on shares of Square from $17.00 to $18.00 and gave the company an outperform rating in a research note on Thursday, February 23rd. Finally, Mizuho reaffirmed a buy rating on shares of Square in a research note on Monday, March 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $18.51.

Square (NYSE:SQ) traded up 1.17% during mid-day trading on Thursday, hitting $19.91. 5,086,741 shares of the stock were exchanged. The company’s market capitalization is $7.45 billion. The stock has a 50 day moving average price of $18.32 and a 200 day moving average price of $15.51. Square has a 1-year low of $8.42 and a 1-year high of $20.69.

Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, May 3rd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $461.55 million during the quarter, compared to analysts’ expectations of $450.66 million. On average, equities analysts anticipate that Square will post ($0.19) earnings per share for the current fiscal year.

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In other Square news, CEO Jack Dorsey sold 381,500 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $20.42, for a total transaction of $7,790,230.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline D. Reses sold 10,936 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $18.95, for a total value of $207,237.20. Following the transaction, the insider now directly owns 673,340 shares of the company’s stock, valued at approximately $12,759,793. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,183,338 shares of company stock valued at $56,299,960. 42.60% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in SQ. Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of Square during the third quarter valued at approximately $15,980,000. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Square by 87.8% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 167,910 shares of the technology company’s stock valued at $1,958,000 after buying an additional 78,508 shares during the last quarter. Geduld E E bought a new stake in shares of Square during the third quarter valued at approximately $350,000. PNC Financial Services Group Inc. boosted its stake in shares of 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 last quarter. Finally, Sei Investments Co. boosted its stake in shares of Square by 16,672.3% in the third quarter. Sei Investments Co. now owns 47,801 shares of the technology company’s stock valued at $558,000 after buying an additional 47,516 shares during the last quarter. Institutional investors own 24.28% of the company’s stock.

About Square

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.

12 Month Chart for NYSE:SQ

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