Evercore ISI upgraded shares of Square, Inc. (NYSE:SQ) from an in-line rating to an outperform rating in a research report report published on Friday.

A number of other analysts have also recently issued reports on SQ. Credit Suisse Group lifted their price objective on Square from $25.00 to $26.00 and gave the company a neutral rating in a research report on Thursday, August 3rd. Barclays PLC reissued an overweight rating and set a $28.00 price objective (up previously from $21.00) on shares of Square in a research report on Thursday, August 3rd. Citigroup Inc. cut Square from a buy rating to a neutral rating and set a $38.00 price objective for the company. in a research report on Thursday, November 9th. Cantor Fitzgerald lifted their price objective on Square to $41.00 and gave the company an overweight rating in a research report on Thursday, November 9th. Finally, Canaccord Genuity lifted their price objective on Square from $26.00 to $33.00 and gave the company a hold rating in a research report on Thursday, November 9th. Fourteen research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Square presently has an average rating of Buy and an average price target of $32.37.

Shares of Square (SQ) traded up $2.28 during trading on Friday, hitting $44.18. The stock had a trading volume of 39,182,443 shares, compared to its average volume of 7,564,633. 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 has a 1-year low of $12.08 and a 1-year high of $45.74.

Square (NYSE:SQ) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business 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%. Square’s revenue was up 44.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. analysts predict 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 business’s stock in a transaction dated 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 in the company, valued at $13,811,019.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sarah Friar sold 19,200 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total value of $490,368.00. Following the transaction, the chief financial officer now owns 366,103 shares in the company, valued at $9,350,270.62. The disclosure for this sale can be found here. Insiders have sold 1,394,791 shares of company stock worth $45,611,401 over the last 90 days. Corporate insiders own 32.68% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Trust N.A. increased its stake in Square by 1.3% during the second quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock valued at $357,000 after acquiring an additional 193 shares during the period. Neuberger Berman Group LLC increased its stake in Square by 2.1% during the second quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock valued at $240,000 after acquiring an additional 212 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Square by 1.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock valued at $1,084,000 after acquiring an additional 513 shares during the period. The Manufacturers Life Insurance Company increased its stake in Square by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,706 shares of the technology company’s stock valued at $274,000 after acquiring an additional 921 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Square by 19.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,099 shares during the period. Hedge funds and other institutional investors own 53.24% of the company’s stock.

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.

Analyst Recommendations for Square (NYSE:SQ)

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