Square, Inc. (NYSE:SQ) had its price target increased by Barclays PLC from $28.00 to $37.00 in a research report sent to investors on Thursday morning. Barclays PLC currently has an overweight rating on the technology company’s stock.
Several other research firms have also issued reports on SQ. Vetr raised shares of Square from a buy rating to a strong-buy rating and set a $39.78 price objective for the company in a research note on Wednesday, October 25th. Bank of America Corporation initiated coverage on shares of Square in a research note on Tuesday, September 12th. They issued a neutral rating for the company. Citigroup Inc. lifted their price objective on shares of Square from $30.00 to $38.00 and gave the company a buy rating in a research note on Wednesday, October 18th. Cantor Fitzgerald initiated coverage on shares of Square in a research note on Tuesday, September 12th. They issued an overweight rating and a $31.00 price objective for the company. Finally, CIBC initiated coverage on shares of Square in a research note on Thursday, October 12th. They issued an outperform rating and a $35.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Square has an average rating of Buy and a consensus price target of $31.67.
Shares of Square (SQ) traded up $1.25 during trading hours on Thursday, hitting $39.21. 19,473,400 shares of the company’s stock were exchanged, compared to its average volume of 9,402,780. Square has a 52 week low of $11.43 and a 52 week high of $39.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 2.30.
Square (NYSE:SQ) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $257.12 million during the quarter, compared to analyst estimates of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. equities analysts forecast that Square will post -0.16 EPS for the current fiscal year.
In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the sale, the director now directly owns 507,385 shares in the company, valued at approximately $12,694,772.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total transaction of $490,368.00. Following the sale, the chief financial officer now owns 366,103 shares in the company, valued at $9,350,270.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,353,600 shares of company stock worth $38,351,040. 32.68% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Almanack Investment Partners LLC. acquired a new position in Square in the second quarter valued at about $117,000. Riverhead Capital Management LLC acquired a new position in Square in the second quarter valued at about $149,000. Hudock Capital Group LLC acquired a new position in Square in the third quarter valued at about $157,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Square by 19.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after buying an additional 1,099 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Square by 42.2% in the second quarter. Pacer Advisors Inc. now owns 8,368 shares of the technology company’s stock valued at $196,000 after buying an additional 2,485 shares in the last quarter. Hedge funds and other institutional investors own 53.91% of the company’s stock.
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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