Square, Inc. (SQ) PT Raised to $41.00
Square, Inc. (NYSE:SQ) had its price target lifted by investment analysts at Oppenheimer Holdings, Inc. from $35.00 to $41.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 4.57% from the stock’s current price.
Several other analysts have also commented on SQ. Citigroup Inc. lowered Square from a “buy” rating to a “neutral” rating and set a $38.00 target price on the stock. in a report on Thursday. Credit Suisse Group reaffirmed a “neutral” rating and set a $26.00 target price (up from $25.00) on shares of Square in a report on Wednesday, August 9th. Stifel Nicolaus raised their target price on Square from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday. Canaccord Genuity raised their target price on Square from $26.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Barclays PLC raised their price objective on Square from $28.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $31.67.
Square (NYSE SQ) opened at $39.21 on Friday. Square has a 12 month low of $11.43 and a 12 month high of $39.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.30 and a current ratio of 1.81.
Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The company’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same period last year, the business posted $0.01 earnings per share. equities research analysts anticipate that Square will post -0.16 EPS for the current fiscal year.
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In related news, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $32.81, for a total transaction of $1,259,904.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction on 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 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. Insiders have sold a total of 1,353,600 shares of company stock valued at $38,351,040 over the last three months. 32.68% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in SQ. FMR LLC boosted its position in shares of Square by 114.7% during the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after acquiring an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Square by 73.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after purchasing an additional 8,058,892 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Square by 7,162.2% in the 1st quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock valued at $93,023,000 after purchasing an additional 5,309,197 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Square by 556.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock valued at $107,786,000 after purchasing an additional 3,894,639 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of Square by 32.8% in the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after purchasing an additional 3,853,000 shares during the last quarter. 53.91% of the stock is owned by institutional investors and hedge funds.
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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