Square, Inc. (NYSE:SQ) had its price objective increased by Deutsche Bank AG to $28.00 in a research note issued to investors on Monday, July 24th. The brokerage currently has a buy rating on the technology company’s stock.
SQ has been the subject of several other reports. Vetr raised Square from a buy rating to a strong-buy rating and set a $26.28 price objective for the company in a report on Monday, July 10th. Citigroup Inc. lifted their price objective on Square from $23.00 to $30.00 and gave the stock a buy rating in a report on Thursday, July 6th. BTIG Research reaffirmed a buy rating and set a $20.00 price objective on shares of Square in a report on Tuesday, March 28th. Tigress Financial started coverage on Square in a report on Friday, May 19th. They set a buy rating for the company. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $19.50 price objective on shares of Square in a report on Thursday, July 6th. Ten research analysts have rated the stock with a hold rating, nineteen 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 $24.61.
Square (NYSE:SQ) opened at 25.21 on Monday. The stock’s 50 day moving average price is $24.96 and its 200 day moving average price is $19.56. Square has a 52 week low of $10.01 and a 52 week high of $27.97. The firm’s market capitalization is $9.49 billion. Square also was the recipient of some unusual options trading on Thursday. Traders acquired 15,478 call options on the company. This represents an increase of 273% compared to the average volume of 4,147 call options.
Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The firm had revenue of $240 million for the quarter, compared to the consensus estimate of $228.64 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The company’s revenue for the quarter was up 40.4% compared to the same quarter last year. On average, equities analysts expect that Square will post $0.17 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Square, Inc. (NYSE:SQ) Price Target Increased to $28.00 by Analysts at Deutsche Bank AG” was first reported by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/08/05/deutsche-bank-ag-increases-square-inc-nysesq-price-target-to-28-00-updated.html.
In related news, CEO Jack Dorsey sold 381,500 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $20.42, for a total value of $7,790,230.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sarah Friar sold 38,400 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $26.39, for a total value of $1,013,376.00. Following the completion of the transaction, the chief financial officer now directly owns 368,791 shares of the company’s stock, valued at approximately $9,732,394.49. The disclosure for this sale can be found here. Insiders sold 914,900 shares of company stock valued at $20,202,610 in the last three months. 32.68% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of Square by 641.8% in the first quarter. Renaissance Technologies LLC now owns 8,578,500 shares of the technology company’s stock valued at $148,236,000 after buying an additional 7,422,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Square by 72.1% in the first quarter. Bank of New York Mellon Corp now owns 14,480,815 shares of the technology company’s stock worth $250,229,000 after buying an additional 6,065,730 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Square by 7,162.2% in the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock worth $93,023,000 after buying an additional 5,309,197 shares during the last quarter. FMR LLC boosted its stake in shares of Square by 24.4% in the first quarter. FMR LLC now owns 11,124,126 shares of the technology company’s stock worth $192,225,000 after buying an additional 2,183,127 shares during the last quarter. Finally, Hamilton Lane Advisors LLC boosted its stake in shares of Square by 526.1% in the first quarter. Hamilton Lane Advisors LLC now owns 1,942,530 shares of the technology company’s stock worth $33,567,000 after buying an additional 1,632,263 shares during the last quarter. 75.60% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Square Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
