Square, Inc. (NYSE:SQ) had its target price increased by Cantor Fitzgerald to $41.00 in a research note published on Thursday morning. Cantor Fitzgerald currently has an overweight rating on the technology company’s stock.
SQ has been the topic of a number of other reports. Zacks Investment Research raised Square from a hold rating to a buy rating and set a $30.00 price objective on the stock in a research note on Tuesday, August 1st. Vetr cut Square from a strong-buy rating to a buy rating and set a $30.12 target price on the stock. in a research note on Tuesday, September 12th. Credit Suisse Group raised their target price on Square from $25.00 to $26.00 and gave the stock a neutral rating in a research note on Thursday, August 3rd. Piper Jaffray Companies reissued a hold rating and issued a $24.00 target price on shares of Square in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada reissued a buy rating and issued a $31.00 target price on shares of Square in a research note on Sunday, October 8th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $32.17.
Shares of Square (NYSE SQ) traded up $1.25 during trading hours on Thursday, hitting $39.21. The stock had a trading volume of 19,473,500 shares, compared to its average volume of 7,253,239. Square has a 52-week low of $11.43 and a 52-week high of $39.73. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.48.
Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm had revenue of $257.12 million for the quarter, compared to analysts’ expectations of $244.95 million. During the same period last year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was up 44.6% compared to the same quarter last year. analysts anticipate that Square will post -0.16 EPS for the current year.
In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sarah Friar sold 19,200 shares of the firm’s stock in a transaction that occurred on 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 directly owns 366,103 shares of the company’s stock, valued at approximately $9,350,270.62. The disclosure for this sale can be found here. Insiders have sold 1,353,600 shares of company stock valued at $38,351,040 in the last three months. 32.68% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. Stifel Financial Corp grew its position in Square by 25.0% in the 3rd quarter. Stifel Financial Corp now owns 42,648 shares of the technology company’s stock worth $1,228,000 after purchasing an additional 8,540 shares during the period. Westfield Capital Management Co. LP bought a new stake in Square in the 3rd quarter worth approximately $277,000. Commerzbank Aktiengesellschaft FI bought a new stake in Square in the 3rd quarter worth approximately $1,854,000. Dimensional Fund Advisors LP bought a new stake in Square in the 3rd quarter worth approximately $1,928,000. Finally, BB&T Securities LLC bought a new stake in Square in the 3rd quarter worth approximately $269,000. 53.24% of the stock is owned by institutional investors and hedge funds.
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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