Square Inc. (SQ) Lowered to Hold at Vetr Inc.
Square Inc. (NYSE:SQ) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They presently have a $11.46 target price on the stock. Vetr‘s price target would indicate a potential downside of 0.09% from the company’s current price.
SQ has been the topic of several other research reports. Jefferies Group restated a “buy” rating and set a $15.00 price target on shares of Square in a research report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday. Stifel Nicolaus upgraded shares of Square from a “hold” rating to a “buy” rating and raised their price target for the company from $8.06 to $15.00 in a research report on Monday, August 22nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $13.00 price target on shares of Square in a research report on Friday. Finally, BTIG Research lowered shares of Square from a “buy” rating to a “neutral” rating and dropped their price target for the company from $15.91 to $12.00 in a research report on Monday, August 29th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Square has a consensus rating of “Hold” and an average price target of $12.74.
Square (NYSE:SQ) traded down 0.09% during midday trading on Monday, reaching $11.47. 1,581,273 shares of the company were exchanged. Square has a 52 week low of $8.06 and a 52 week high of $15.91. The firm’s 50 day moving average price is $11.74 and its 200-day moving average price is $11.23. The stock’s market capitalization is $3.92 billion.
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Square (NYSE:SQ) last released its quarterly earnings data 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 firm had revenue of $439 million for 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%. The business’s revenue was up 54.1% compared to the same quarter last year. Equities analysts forecast that Square will post ($0.60) EPS for the current fiscal year.
In other Square news, Director Lawrence Henry Summers sold 23,125 shares of Square stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $12.50, for a total transaction of $289,062.50. Following the completion of the sale, the director now directly owns 50,507 shares in the company, valued at $631,337.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sarah Friar sold 2,690 shares of Square 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 sale, the chief financial officer now owns 114,402 shares of the company’s stock, valued at $1,117,707.54. The disclosure for this sale can be found here. Company insiders own 42.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. First Mercantile Trust Co. bought a new stake in shares of Square during the third quarter worth $332,000. Cullinan Associates Inc. acquired a new position in shares of Square during the third quarter worth $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 period. Calvert Investment Management Inc. acquired a new position in shares of Square during the second quarter worth $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 period. Institutional investors and hedge funds own 16.90% 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.
To view Vetr’s full report, visit Vetr’s official website.
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