Stifel Nicolaus restated their buy rating on shares of Square, Inc. (NYSE:SQ) in a research report report published on Wednesday morning. Stifel Nicolaus currently has a $29.00 target price on the technology company’s stock, up from their prior target price of $27.00.
A number of other equities analysts have also recently issued reports on the company. Royal Bank Of Canada restated an outperform rating and set a $31.00 price target (up from $24.00) on shares of Square in a report on Wednesday. Zacks Investment Research cut Square from a buy rating to a hold rating in a report on Monday, August 7th. BidaskClub cut Square from a strong-buy rating to a buy rating in a report on Saturday, August 5th. TheStreet upgraded Square from a d+ rating to a c- rating in a report on Thursday, August 3rd. Finally, Vetr upgraded Square from a buy rating to a strong-buy rating and set a $29.36 price target on the stock in a report on Thursday, August 3rd. Eleven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $24.61.
Shares of Square (SQ) traded up 0.69% during mid-day trading on Wednesday, reaching $24.82. 5,266,455 shares of the company’s stock traded hands. The company’s market cap is $9.52 billion. The company has a 50 day moving average of $25.32 and a 200 day moving average of $20.07. Square has a 12 month low of $10.88 and a 12 month high of $27.97.
Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $240 million for the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The company’s revenue for the quarter was up 40.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) EPS. Analysts expect that Square will post $0.24 earnings per share for the current fiscal year.
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In other news, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $22.09, for a total transaction of $848,256.00. Following the completion of the sale, the chief financial officer now directly owns 375,023 shares of the company’s stock, valued at approximately $8,284,258.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 90,000 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $23.36, for a total value of $2,102,400.00. Following the sale, the director now directly owns 186,308 shares of the company’s stock, valued at $4,352,154.88. The disclosure for this sale can be found here. Insiders sold a total of 914,900 shares of company stock valued at $20,202,610 over the last three months. 32.68% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in SQ. Pacer Advisors Inc. raised its stake in shares of Square by 22.7% in the first quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after buying an additional 1,090 shares in the last quarter. Glassman Wealth Services increased its position in Square by 1,987.3% in the first quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock valued at $114,000 after buying an additional 6,260 shares during the last quarter. Almanack Investment Partners LLC. purchased a new position in Square during the second quarter valued at $117,000. Old Mutual Global Investors UK Ltd. purchased a new position in Square during the first quarter valued at $131,000. Finally, Concert Wealth Management Inc. purchased a new position in Square during the first quarter valued at $144,000. 76.25% 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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