Square, Inc. (SQ) Price Target Raised to $41.00
Square, Inc. (NYSE:SQ) had its price target lifted by Cantor Fitzgerald to $41.00 in a report published on Thursday morning. Cantor Fitzgerald currently has an overweight rating on the technology company’s stock.
A number of other equities analysts have also recently weighed in on the stock. Credit Suisse Group reissued a neutral rating and set a $31.00 price target (up from $26.00) on shares of Square in a research report on Thursday. They noted that the move was a valuation call. Stifel Nicolaus raised their price objective on shares of Square from $36.00 to $37.00 and gave the stock a hold rating in a report on Thursday. Royal Bank Of Canada raised their price objective on shares of Square from $31.00 to $41.00 and gave the stock an outperform rating in a report on Thursday. They noted that the move was a valuation call. Guggenheim upgraded shares of Square from a neutral rating to a buy rating and set a $44.00 price objective on the stock in a report on Thursday. Finally, Citigroup Inc. lowered shares of Square from a buy rating to a neutral rating and set a $38.00 price target on the stock. in a research note on Thursday. 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. The company currently has a consensus rating of Buy and an average price target of $31.67.
Shares of Square (NYSE:SQ) traded up $1.25 during midday trading on Thursday, hitting $39.21. 19,473,400 shares of the stock were exchanged, compared to its average volume of 9,402,780. Square has a 52 week low of $11.43 and a 52 week high of $39.73. The company has a current ratio of 1.81, a quick ratio of 2.30 and a debt-to-equity ratio of 0.48.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $257.12 million for the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The business’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. equities analysts anticipate that Square will post -0.16 earnings per share for the current fiscal year.
In other news, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $32.81, for a total transaction of $1,259,904.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the sale, the director now directly owns 507,385 shares of the company’s stock, valued at approximately $12,694,772.70. The disclosure for this sale can be found here. Insiders sold a total of 1,353,600 shares of company stock valued at $38,351,040 in the last three months. Insiders own 32.68% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Amalgamated Bank lifted its holdings in shares of Square by 12.2% during the 3rd quarter. Amalgamated Bank now owns 45,983 shares of the technology company’s stock worth $1,325,000 after acquiring an additional 5,016 shares during the period. Evergreen Capital Management LLC bought a new stake in shares of Square during the 3rd quarter worth approximately $1,917,000. Zevenbergen Capital Investments LLC bought a new stake in shares of Square during the 3rd quarter worth approximately $1,829,000. JPMorgan Chase & Co. lifted its holdings in shares of Square by 64.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,146,413 shares of the technology company’s stock worth $61,150,000 after acquiring an additional 842,014 shares during the period. Finally, Legal & General Group Plc increased its position in Square by 25.2% during the 3rd quarter. Legal & General Group Plc now owns 99,488 shares of the technology company’s stock worth $2,866,000 after purchasing an additional 20,036 shares in the last quarter. 53.91% of the stock is owned by 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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