Square Inc. (SQ) Stock Rating Reaffirmed by Keefe, Bruyette & Woods
Square Inc. (NYSE:SQ)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Friday. They currently have a $13.00 target price on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 13.24% from the stock’s current price.
Several other equities research analysts also recently issued reports on the stock. Pacific Crest reissued a “hold” rating on shares of Square in a research report on Thursday. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Thursday. Vetr downgraded shares of Square from a “strong-buy” rating to a “buy” rating and set a $12.28 target price for the company. in a research report on Monday, October 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of Square in a research report on Wednesday, September 28th. Finally, Mizuho reaffirmed a “top pick” rating and issued a $16.00 target price on shares of Square in a research report on Wednesday, September 14th. Fifteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $12.77.
Square (NYSE:SQ) opened at 11.48 on Friday. The stock’s 50 day moving average is $11.75 and its 200 day moving average is $11.26. The company’s market cap is $3.92 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 issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. Square had a negative net margin of 14.85% and a negative return on equity of 37.14%. The company earned $439 million during the quarter, compared to the consensus estimate of $406.93 million. The company’s quarterly revenue was up 54.1% compared to the same quarter last year. On average, equities analysts forecast that Square will post ($0.60) earnings per share for the current year.
In other Square news, Director Lawrence Henry Summers sold 23,125 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $12.50, for a total value of $289,062.50. Following the transaction, the director now directly owns 50,507 shares of the company’s stock, valued at approximately $631,337.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Francoise Brougher sold 57,692 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $12.00, for a total transaction of $692,304.00. Following the completion of the transaction, the insider now directly owns 164,977 shares in the company, valued at $1,979,724. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SQ. Cambridge Investment Research Advisors Inc. purchased a new position in Square during the second quarter valued at approximately $107,000. Ancora Inverness LLC bought a new stake in shares of Square during the second quarter valued at about $109,000. Emerald Acquisition Ltd. bought a new stake in shares of Square during the second quarter valued at about $115,000. Passport Capital LLC bought a new stake in shares of Square during the second quarter valued at about $116,000. Finally, HighTower Advisors LLC bought a new stake in shares of Square during the second quarter valued at about $121,000. 16.89% of the stock is currently owned by hedge funds and other institutional investors.
Square Company Profile
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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