Brokerages Set Square, Inc. (SQ) Target Price at $26.02
Square, Inc. (NYSE:SQ) has earned a consensus recommendation of “Buy” from the thirty-six analysts that are currently covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.69.
A number of equities research analysts have weighed in on SQ shares. Mizuho started coverage on Square in a report on Wednesday, June 28th. They issued a “buy” rating and a $28.00 target price on the stock. Vetr raised Square from a “buy” rating to a “strong-buy” rating and set a $26.28 target price on the stock in a report on Tuesday, July 4th. Citigroup Inc. raised their target price on Square from $23.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Square in a report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.50 target price on shares of Square in a report on Thursday, July 6th.
In other Square news, CFO Sarah Friar sold 19,200 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $25.54, for a total transaction of $490,368.00. Following the completion of the sale, the chief financial officer now directly owns 366,103 shares in the company, valued at approximately $9,350,270.62. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the 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 sale, the director now owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,353,600 shares of company stock valued at $38,351,040. Company insiders own 32.68% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. grew its stake in shares of Square by 22.7% in the 1st 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 during the period. Almanack Investment Partners LLC. acquired a new stake in shares of Square in the 2nd quarter valued at about $117,000. Riverhead Capital Management LLC acquired a new stake in shares of Square in the 2nd quarter valued at about $149,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Square by 19.4% in 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, FNY Partners Fund LP grew its stake in shares of Square by 55.4% in the 1st quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock valued at $174,000 after buying an additional 3,600 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.
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Shares of Square (NYSE:SQ) traded up 1.18% during trading on Friday, reaching $32.50. The company’s stock had a trading volume of 5,925,969 shares. The company’s market cap is $12.47 billion. Square has a 52-week low of $10.88 and a 52-week high of $33.22. The firm’s 50-day moving average is $29.35 and its 200 day moving average is $24.34.
Square (NYSE:SQ) last issued its 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. The firm 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 company’s revenue was up 40.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. On average, equities research analysts predict that Square will post $0.24 EPS for the current fiscal year.
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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