Square, Inc. (SQ) Price Target Increased to $32.00 by Analysts at KeyCorp
Square, Inc. (NYSE:SQ) had its price objective hoisted by research analysts at KeyCorp from $29.00 to $32.00 in a research note issued to investors on Tuesday. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price indicates a potential upside of 8.88% from the company’s current price.
Other research analysts have also recently issued reports about the stock. Credit Suisse Group restated a “neutral” rating and set a $26.00 price target (up from $25.00) on shares of Square in a report on Wednesday, August 9th. 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 note on Tuesday. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 target price (up previously from $24.00) on shares of Square in a research report on Wednesday, August 9th. Canaccord Genuity lifted their target price on shares of Square from $18.00 to $26.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC reissued an “overweight” rating and set a $28.00 target price (up previously from $21.00) on shares of Square in a research report on Wednesday, August 9th. Eleven investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $25.20.
Square (NYSE SQ) traded up 0.34% during trading on Tuesday, reaching $29.49. The company’s stock had a trading volume of 1,522,851 shares. The company’s 50-day moving average is $26.71 and its 200-day moving average is $22.95. The stock’s market cap is $11.32 billion. Square has a 12 month low of $10.88 and a 12 month high of $29.63.
Square (NYSE:SQ) last posted its quarterly earnings data 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. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The firm had revenue of $240.00 million for the quarter, compared to the consensus estimate of $228.64 million. During the same period in the previous year, the firm earned ($0.08) EPS. The business’s revenue for the quarter was up 40.4% compared to the same quarter last year. Equities analysts expect that Square will post $0.24 EPS for the current fiscal year.
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In other Square news, CFO Sarah Friar sold 19,200 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at approximately $9,350,270.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total transaction 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 $12,694,772.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 972,800 shares of company stock valued at $25,520,512. 32.68% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SQ. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Square by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock worth $175,000 after purchasing an additional 30 shares during the period. Raymond James Trust N.A. raised its position in shares of Square by 1.3% in the second quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock worth $357,000 after buying an additional 193 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Square by 2.1% in the second quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock worth $240,000 after buying an additional 212 shares in the last quarter. Stifel Financial Corp raised its position in shares of Square by 1.8% in the first quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock worth $461,000 after buying an additional 473 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Square by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock worth $1,084,000 after buying an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 53.83% of the company’s stock.
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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