Vetr Inc. Upgrades Square, Inc. (SQ) to “Buy”

Square, Inc. (NYSE:SQ) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $32.51 price objective on the technology company’s stock. Vetr‘s target price would indicate a potential upside of 3.80% from the company’s previous close.

A number of other equities research analysts also recently weighed in on SQ. Credit Suisse Group reaffirmed a “neutral” rating and issued a $26.00 target price (up previously from $25.00) on shares of Square in a report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $31.00 target price (up previously from $24.00) on shares of Square in a report on Wednesday, August 9th. Zacks Investment Research downgraded Square from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Canaccord Genuity raised their target price on Square from $18.00 to $26.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $28.00 target price (up previously from $21.00) on shares of Square in a report on Wednesday, August 9th. Twelve research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.48.

Square (SQ) opened at 31.32 on Monday. The company’s market cap is $12.02 billion. The company’s 50 day moving average price is $27.72 and its 200 day moving average price is $23.56. Square has a 52-week low of $10.88 and a 52-week high of $31.52.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $240.00 million for the quarter, compared to the consensus estimate of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The firm’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same quarter 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.

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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated 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 directly owns 507,385 shares of the company’s stock, valued at approximately $12,694,772.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $26.25, for a total value of $504,000.00. Following the completion of the transaction, the chief financial officer now directly owns 368,791 shares of the company’s stock, valued at $9,680,763.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 972,800 shares of company stock valued at $25,520,512. 32.68% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Regents of The University of California bought a new position in shares of Square in the 2nd quarter worth about $4,692,000. Public Employees Retirement System of Ohio raised its position in shares of Square by 54.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 234,768 shares of the technology company’s stock worth $5,508,000 after acquiring an additional 82,768 shares in the last quarter. Cypress Wealth Advisors LLC raised its position in shares of Square by 71.0% in the 2nd quarter. Cypress Wealth Advisors LLC now owns 107,747 shares of the technology company’s stock worth $2,802,000 after acquiring an additional 44,750 shares in the last quarter. National Asset Management Inc. raised its position in shares of Square by 21.6% in the 2nd quarter. National Asset Management Inc. now owns 12,444 shares of the technology company’s stock worth $292,000 after acquiring an additional 2,209 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Square by 285.7% in the 2nd quarter. California State Teachers Retirement System now owns 395,757 shares of the technology company’s stock worth $9,284,000 after acquiring an additional 293,137 shares in the last quarter. 53.83% of the stock is owned by hedge funds and other institutional investors.

About Square

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.

Analyst Recommendations for Square (NYSE:SQ)

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