Pacific Crest Reiterates “Hold” Rating for Square Inc. (SQ)
Square Inc. (NYSE:SQ)‘s stock had its “hold” rating reiterated by equities research analysts at Pacific Crest in a research report issued on Thursday.
A number of other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods began coverage on shares of Square in a research report on Thursday. They issued a “mkt perform” rating for the company. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Thursday. Vetr downgraded shares of Square from a “strong-buy” rating to a “buy” rating and set a $12.28 target price on the stock. in a report on Monday. Jefferies Group reissued a “buy” rating and issued a $15.00 target price on shares of Square in a report on Wednesday, September 28th. Finally, Mizuho reissued a “top pick” rating and issued a $16.00 target price on shares of Square in a report on Wednesday, September 14th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $12.76.
Shares of Square (NYSE:SQ) traded down 0.5998% during midday trading on Thursday, reaching $11.4509. 1,441,612 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $11.76 and a 200-day moving average of $11.28. The stock’s market capitalization is $3.91 billion. Square has a 12-month low of $8.06 and a 12-month high of $15.91.
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Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.03. The business earned $439 million during the quarter, compared to analyst estimates of $406.93 million. Square had a negative net margin of 14.85% and a negative return on equity of 37.14%. Square’s revenue was up 54.1% on a year-over-year basis. Analysts anticipate that Square will post ($0.60) EPS for the current fiscal year.
In other Square news, CFO Sarah Friar sold 2,690 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total transaction of $26,281.30. Following the transaction, the chief financial officer now directly owns 114,402 shares in the company, valued at approximately $1,117,707.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dana Wagner sold 6,953 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total transaction of $67,930.81. Following the transaction, the insider now owns 271,315 shares in the company, valued at $2,650,747.55. The disclosure for this sale can be found here. Company insiders own 42.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SQ. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Square during the second quarter valued at about $107,000. Ancora Inverness LLC purchased a new stake in Square during the second quarter worth $109,000. Emerald Acquisition Ltd. purchased a new stake in Square during the second quarter worth $115,000. Passport Capital LLC purchased a new stake in Square during the second quarter worth $116,000. Finally, HighTower Advisors LLC purchased a new stake in Square during the second quarter worth $121,000. Institutional investors own 16.89% of the company’s stock.
Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.
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