Square, Inc. (NYSE:SQ)‘s stock had its “overweight” rating restated by investment analysts at Barclays PLC in a note issued to investors on Wednesday. They currently have a $28.00 price target on the technology company’s stock, up from their prior price target of $21.00. Barclays PLC’s price objective suggests a potential upside of 13.59% from the company’s previous close.
Several other analysts have also commented on SQ. Vetr lowered shares of Square from a “strong-buy” rating to a “buy” rating and set a $19.66 price objective for the company. in a report on Thursday, April 20th. Royal Bank Of Canada lowered their price objective on shares of Square to $18.00 and set a “buy” rating for the company in a report on Monday, April 24th. Deutsche Bank AG restated a “buy” rating and issued a $19.00 price objective on shares of Square in a report on Monday, April 24th. Zacks Investment Research lowered shares of Square from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 25th. Finally, Guggenheim lowered shares of Square from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $19.00 to $20.00 in a report on Thursday, May 4th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $24.61.
Shares of Square (SQ) traded up 0.694% during trading on Wednesday, hitting $24.821. The stock had a trading volume of 4,562,253 shares. Square has a 1-year low of $10.88 and a 1-year high of $27.97. The company’s market cap is $9.52 billion. The firm’s 50 day moving average is $25.30 and its 200 day moving average is $20.00.
Square (NYSE:SQ) last posted its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $240 million during the quarter, compared to analyst estimates of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. Square’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. Equities research analysts anticipate that Square will post $0.24 EPS for the current fiscal year.
In related news, CEO Jack Dorsey sold 381,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were 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 the SEC website. Also, CFO Sarah Friar sold 19,200 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $26.25, for a total transaction of $504,000.00. Following the sale, the chief financial officer now directly owns 368,791 shares of the company’s stock, valued at approximately $9,680,763.75. The disclosure for this sale can be found here. Insiders have sold 914,900 shares of company stock valued at $20,202,610 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 SQ. Cambridge Investment Research Advisors Inc. increased its stake in Square by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock worth $175,000 after buying an additional 30 shares during the period. Raymond James Trust N.A. increased its stake in Square by 1.3% in the second quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock worth $357,000 after buying an additional 193 shares during the period. Neuberger Berman Group LLC increased its stake in Square by 2.1% in the second quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock worth $240,000 after buying an additional 212 shares during the period. Stifel Financial Corp increased its stake in Square by 1.8% in the first quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock worth $461,000 after buying an additional 473 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Square by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock worth $1,084,000 after buying an additional 513 shares during the period. 76.25% 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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