Square, Inc. (SQ) PT Raised to $33.00 at Canaccord Genuity
Square, Inc. (NYSE:SQ) had its price target boosted by Canaccord Genuity from $26.00 to $33.00 in a research report released on Thursday morning. Canaccord Genuity currently has a hold rating on the technology company’s stock.
SQ has been the subject of a number of other reports. Citigroup Inc. raised their price objective on Square from $30.00 to $38.00 and gave the company a buy rating in a research report on Wednesday, October 18th. Vetr cut Square from a strong-buy rating to a buy rating and set a $30.12 price target for the company. in a report on Tuesday, September 12th. Zacks Investment Research raised Square from a hold rating to a buy rating and set a $30.00 price target for the company in a report on Tuesday, August 1st. Oppenheimer Holdings, Inc. initiated coverage on Square in a report on Thursday, October 12th. They set an outperform rating and a $35.00 price target for the company. Finally, Piper Jaffray Companies reissued a hold rating and set a $24.00 price target on shares of Square in a report on Wednesday, July 26th. Thirteen 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 company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $32.17.
Square (NYSE:SQ) traded up $1.25 on Thursday, hitting $39.21. The stock had a trading volume of 19,473,500 shares, compared to its average volume of 7,253,239. Square has a 52 week low of $11.43 and a 52 week high of $39.73. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.
Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The company had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. During the same period last year, the firm posted $0.01 earnings per share. The business’s revenue was up 44.6% on a year-over-year basis. equities research analysts anticipate that Square will post -0.16 earnings per share for the current fiscal year.
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In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $27.22, for a total transaction of $10,888,000.00. Following the transaction, the director now directly owns 507,385 shares of the company’s stock, valued at approximately $13,811,019.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $25.58, for a total value of $982,272.00. Following the transaction, the chief financial officer now directly owns 366,103 shares in the company, valued at $9,364,914.74. The disclosure for this sale can be found here. Insiders sold a total of 1,353,600 shares of company stock worth $38,351,040 over the last three months. 32.68% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Makena Capital Management LLC bought a new stake in Square during the 2nd quarter worth approximately $4,561,000. California Public Employees Retirement System grew its holdings in shares of Square by 10.3% in the second quarter. California Public Employees Retirement System now owns 353,700 shares of the technology company’s stock valued at $8,298,000 after acquiring an additional 33,100 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Square by 55.6% in the second quarter. Royce & Associates LP now owns 235,000 shares of the technology company’s stock valued at $5,513,000 after acquiring an additional 84,000 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Square by 285.7% in the second quarter. California State Teachers Retirement System now owns 395,757 shares of the technology company’s stock valued at $9,284,000 after acquiring an additional 293,137 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Square by 2.9% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,190,200 shares of the technology company’s stock valued at $74,842,000 after acquiring an additional 90,200 shares in the last quarter. 53.24% 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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