Square, Inc. (SQ) Given New $35.00 Price Target at SunTrust Banks, Inc.
SQ has been the topic of several other reports. Citigroup Inc. increased their price target on shares of Square from $30.00 to $38.00 and gave the company a buy rating in a research note on Wednesday, October 18th. Vetr lowered shares of Square from a strong-buy rating to a buy rating and set a $30.12 price target on the stock. in a research note on Tuesday, September 12th. Zacks Investment Research upgraded shares of Square from a hold rating to a buy rating and set a $30.00 price target on the stock in a research note on Tuesday, August 1st. Oppenheimer Holdings, Inc. started coverage on shares of Square in a research note on Thursday, October 12th. They issued an outperform rating and a $35.00 price target on the stock. Finally, Piper Jaffray Companies restated a hold rating and set a $24.00 target price on shares of Square in a research report on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Square has an average rating of Buy and a consensus price target of $31.67.
Shares of Square (NYSE:SQ) traded up $1.25 during trading on Thursday, reaching $39.21. 19,468,657 shares of the company’s stock traded hands, compared to its average volume of 7,253,199. Square has a one year low of $11.43 and a one year high of $39.73. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.30 and a current ratio of 2.30.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The company had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 8.28%. The firm’s revenue was up 44.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. analysts anticipate that Square will post -0.16 EPS for the current fiscal year.
In other news, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $32.81, for a total value of $1,259,904.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total value of $13,088,000.00. Following the completion of the transaction, the director now owns 507,732 shares of the company’s stock, valued at approximately $16,612,991.04. The disclosure for this sale can be found here. In the last three months, insiders sold 1,353,600 shares of company stock valued at $38,351,040. 32.68% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank increased its position in shares of Square by 12.2% in the third quarter. Amalgamated Bank now owns 45,983 shares of the technology company’s stock valued at $1,325,000 after buying an additional 5,016 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Square in the third quarter valued at $1,917,000. Zevenbergen Capital Investments LLC purchased a new position in shares of Square in the third quarter valued at $1,829,000. JPMorgan Chase & Co. increased its position in shares of Square by 64.6% in the third quarter. JPMorgan Chase & Co. now owns 2,146,413 shares of the technology company’s stock valued at $61,150,000 after buying an additional 842,014 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Square by 25.2% in the third quarter. Legal & General Group Plc now owns 99,488 shares of the technology company’s stock valued at $2,866,000 after buying an additional 20,036 shares in the last quarter. Institutional investors and hedge funds own 53.91% of the company’s stock.
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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