Square Inc. (SQ) Downgraded by Vetr Inc.
Square Inc. (NYSE:SQ) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They currently have a $12.28 price objective on the stock. Vetr‘s target price would suggest a potential upside of 6.97% from the stock’s current price.
SQ has been the subject of several other research reports. Evercore ISI assumed coverage on shares of Square in a research report on Tuesday, June 21st. They issued a “hold” rating and a $7.00 price target for the company. Mizuho reissued a “top pick” rating and issued a $16.00 price target on shares of Square in a research report on Wednesday, September 14th. BTIG Research reissued a “buy” rating and issued a $12.00 price target on shares of Square in a research report on Thursday, August 4th. Royal Bank Of Canada reissued a “buy” rating on shares of Square in a research report on Friday, June 17th. Finally, Compass Point increased their price target on shares of Square from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Fifteen 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. The company presently has an average rating of “Buy” and an average price target of $12.77.
Square (NYSE:SQ) traded down 0.35% on Monday, hitting $11.48. The company had a trading volume of 1,660,239 shares. The firm’s 50 day moving average price is $11.75 and its 200 day moving average price is $11.26. The stock’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 posted its quarterly earnings results 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 firm earned $439 million during the quarter, compared to analyst estimates of $406.93 million. The company’s revenue for the quarter was up 54.1% compared to the same quarter last year. Equities analysts predict that Square will post ($0.60) earnings per share for the current fiscal year.
In other Square news, insider Francoise Brougher sold 57,692 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $12.00, for a total value of $692,304.00. Following the transaction, the insider now directly owns 164,977 shares of the company’s stock, valued at $1,979,724. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sarah Friar sold 2,690 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total transaction of $26,281.30. Following the completion of the transaction, the chief financial officer now directly owns 114,402 shares in the company, valued at $1,117,707.54. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. First Mercantile Trust Co. acquired a new position in shares of Square during the third quarter worth about $332,000. Cullinan Associates Inc. acquired a new position in shares of Square during the third quarter worth about $527,000. Royal Bank of Canada boosted its position in shares of Square by 41.9% in the second quarter. Royal Bank of Canada now owns 132,192 shares of the company’s stock worth $1,197,000 after buying an additional 39,020 shares during the last quarter. Calvert Investment Management Inc. acquired a new position in shares of Square during the second quarter worth about $163,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Square by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 45,636 shares of the company’s stock worth $414,000 after buying an additional 1,512 shares during the last quarter. 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.
To view Vetr’s full report, visit Vetr’s official website.
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