Guggenheim upgraded shares of Square, Inc. (NYSE:SQ) from a neutral rating to a buy rating in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has $44.00 price target on the technology company’s stock.
Several other research analysts also recently commented on the company. Citigroup Inc. downgraded Square from a buy rating to a neutral rating and set a $38.00 price objective on the stock. in a research note on Thursday. KeyCorp reaffirmed an overweight rating and issued a $40.00 price objective (up previously from $35.00) on shares of Square in a research note on Monday, November 6th. Stifel Nicolaus downgraded Square from a buy rating to a hold rating and raised their price objective for the stock from $29.00 to $36.00 in a research note on Wednesday, November 1st. Deutsche Bank AG raised their price objective on Square to $37.00 and gave the stock a buy rating in a research note on Tuesday, October 31st. Finally, Nomura raised their price objective on Square from $33.00 to $45.00 and gave the stock a buy rating in a research note on Tuesday, October 31st. Thirteen research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $32.17.
Square (NYSE:SQ) traded up $1.25 during mid-day trading on Thursday, reaching $39.21. The company’s 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 debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81.
Square (NYSE:SQ) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $257.12 million for the quarter, compared to the consensus estimate of $244.95 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. Square’s revenue was up 44.6% on a year-over-year basis. equities analysts predict that Square will post -0.16 earnings per share for the current year.
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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total value of $10,008,000.00. Following the completion of the transaction, the director now 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 the SEC website. Also, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $32.81, for a total value of $1,259,904.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,353,600 shares of company stock valued at $38,351,040. Company insiders own 32.68% of the company’s stock.
Several hedge funds have recently modified their holdings of SQ. Almanack Investment Partners LLC. bought a new stake in shares of Square during the 2nd quarter worth approximately $117,000. Riverhead Capital Management LLC bought a new stake in shares of Square during the 2nd quarter worth approximately $149,000. Hudock Capital Group LLC bought a new stake in shares of Square during the 3rd quarter worth approximately $157,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Square by 19.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,099 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Square by 42.2% during the 2nd quarter. Pacer Advisors Inc. now owns 8,368 shares of the technology company’s stock worth $196,000 after acquiring an additional 2,485 shares during the last quarter. 53.24% of the stock is owned by hedge funds and other institutional investors.
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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