Square, Inc. (SQ) Upgraded to “Buy” by Vetr Inc.
Several other research firms also recently commented on SQ. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of Square in a research note on Monday. Wells Fargo & Company began coverage on Square in a research note on Tuesday. They issued a market perform rating and a $42.00 price objective on the stock. Credit Suisse Group reaffirmed a positive rating and issued a $37.00 price objective (up previously from $31.00) on shares of Square in a research note on Monday. Evercore ISI raised Square from an in-line rating to an outperform rating and set a $51.00 price objective on the stock in a research note on Friday, November 17th. Finally, Goldman Sachs Group, Inc. (The) raised Square to a buy rating in a research note on Thursday, November 16th. Fourteen investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Square presently has a consensus rating of Buy and an average price target of $33.61.
Shares of Square (NYSE:SQ) traded up $0.24 during trading hours on Thursday, reaching $49.05. The company’s stock had a trading volume of 9,635,100 shares, compared to its average volume of 7,916,254. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81. Square has a fifty-two week low of $12.32 and a fifty-two week high of $49.55.
Square (NYSE:SQ) last announced its earnings results 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 business had revenue of $257.12 million for 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 business’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. equities analysts anticipate that Square will post -0.16 EPS for the current year.
In related news, CAO Ajmere Dale sold 17,446 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $38.98, for a total transaction of $680,045.08. Following the completion of the transaction, the chief accounting officer now owns 134,518 shares in the company, valued at approximately $5,243,511.64. The transaction was disclosed in a document filed with the SEC, 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 Monday, September 11th. The shares were sold at an average price of $27.22, for a total value of $10,888,000.00. Following the transaction, the director now owns 507,385 shares of the company’s stock, valued at approximately $13,811,019.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,337,191 shares of company stock valued at $44,138,761. Company insiders own 32.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC raised its position in Square by 5,187.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 540,000 shares of the technology company’s stock valued at $15,557,000 after purchasing an additional 529,788 shares in the last quarter. California Public Employees Retirement System raised its position in Square by 4.1% during the 3rd quarter. California Public Employees Retirement System now owns 368,151 shares of the technology company’s stock valued at $10,606,000 after purchasing an additional 14,451 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Square by 256.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 59,112 shares of the technology company’s stock valued at $1,701,000 after purchasing an additional 42,506 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in Square during the 3rd quarter valued at $44,337,000. Finally, Janus Henderson Group PLC bought a new position in shares of Square in the 3rd quarter worth $5,039,000. 53.64% of the stock is owned by institutional investors and hedge funds.
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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