Square (SQ) Shares Gap Up to $37.60
Square Inc (NYSE:SQ) gapped up before the market opened on Wednesday . The stock had previously closed at $36.73, but opened at $37.60. Square shares last traded at $37.61, with a volume of 28798000 shares.
A number of equities research analysts recently commented on SQ shares. Citigroup upped their price objective on Square from $30.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $30.12 price objective for the company. in a report on Tuesday, September 12th. Goldman Sachs Group upgraded Square to a “buy” rating in a report on Thursday, November 16th. Oppenheimer started coverage on Square in a report on Thursday, October 12th. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have issued a buy rating to the company. Square presently has an average rating of “Buy” and an average price target of $33.82.
The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.48.
Square (NYSE:SQ) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 earnings per share. sell-side analysts forecast that Square Inc will post -0.16 earnings per share for the current fiscal year.
In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction 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 owns 507,385 shares in the company, valued at approximately $13,811,019.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mary G. Meeker sold 51,422 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $38.25, for a total value of $1,966,891.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,479,827 shares of company stock worth $50,048,434. 32.68% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its holdings in shares of 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 acquiring an additional 529,788 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of 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 acquiring an additional 14,451 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of 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 acquiring an additional 42,506 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in shares of Square during the 3rd quarter valued at $44,337,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Square during the 3rd quarter valued at $5,039,000. 54.31% of the stock is currently owned by institutional investors.
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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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