A number of other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Square from a hold rating to a buy rating and set a $32.00 price objective for the company in a research report on Tuesday, October 3rd. Barclays PLC raised their price objective on shares of Square from $28.00 to $37.00 and gave the company an overweight rating in a research report on Thursday, November 9th. Canaccord Genuity restated a hold rating and issued a $26.00 price objective (up previously from $18.00) on shares of Square in a research report on Wednesday, August 9th. Credit Suisse Group restated a neutral rating and issued a $26.00 price objective (up previously from $25.00) on shares of Square in a research report on Wednesday, August 9th. Finally, Vetr downgraded shares of Square from a buy rating to a hold rating and set a $31.08 price objective for the company. in a research report on Wednesday, October 4th. Fifteen equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $33.00.
Shares of Square (SQ) opened at $44.18 on Thursday. Square has a 12 month low of $12.08 and a 12 month high of $45.74. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.48.
Square (NYSE:SQ) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The business had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 44.6% compared to the same quarter last year. sell-side analysts forecast that Square will post -0.16 earnings per share for the current fiscal year.
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In other Square news, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total value of $490,368.00. Following the completion of the sale, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at approximately $9,350,270.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $39.15, for a total transaction of $15,660,000.00. Following the completion of the sale, the director now directly owns 507,732 shares of the company’s stock, valued at $19,877,707.80. The disclosure for this sale can be found here. Insiders sold a total of 1,394,791 shares of company stock valued at $45,611,401 over the last ninety days. 32.68% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in SQ. Almanack Investment Partners LLC. purchased a new stake in shares of Square during the 2nd quarter valued at $117,000. Riverhead Capital Management LLC purchased a new stake in shares of Square during the 2nd quarter valued at $149,000. Hudock Capital Group LLC purchased a new stake in shares of Square during the 3rd quarter valued at $157,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 valued at $158,000 after buying an additional 1,099 shares during the period. Finally, Pacer Advisors Inc. grew 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 valued at $196,000 after buying an additional 2,485 shares during the period. 53.64% 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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