Square Inc. (SQ) Rating Reiterated by Keefe, Bruyette & Woods
Square Inc. (NYSE:SQ)‘s stock had its “market perform” rating reiterated by research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday. They presently have a $13.00 target price on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 13.24% from the stock’s previous close.
SQ has been the subject of a number of other reports. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $12.28 price target for the company. in a report on Monday, October 3rd. Evercore ISI started coverage on Square in a report on Tuesday, June 21st. They set a “hold” rating and a $7.00 price target for the company. Mizuho restated a “top pick” rating and issued a $16.00 target price on shares of Square in a research note on Wednesday, September 14th. BTIG Research restated a “buy” rating and issued a $12.00 target price on shares of Square in a research note on Thursday, August 4th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Square in a research note on Friday, June 17th. Fifteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $12.77.
Shares of Square (NYSE:SQ) opened at 11.48 on Friday. The company’s market cap is $3.92 billion. The company’s 50-day moving average price is $11.75 and its 200 day moving average price is $11.26. 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 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. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The firm earned $439 million during the quarter, compared to the consensus estimate of $406.93 million. The firm’s revenue was up 54.1% on a year-over-year basis. Equities analysts predict that Square will post ($0.60) earnings per share for the current year.
In other news, insider Francoise Brougher sold 57,692 shares of the business’s stock in a transaction on 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 approximately $1,979,724. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana Wagner sold 6,953 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were 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 of the company’s stock, valued at $2,650,747.55. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. purchased a new position in Square during the second quarter worth approximately $107,000. Ancora Inverness LLC purchased a new position in Square during the second quarter worth approximately $109,000. Emerald Acquisition Ltd. purchased a new position in Square during the second quarter worth approximately $115,000. Passport Capital LLC purchased a new position in Square during the second quarter worth approximately $116,000. Finally, HighTower Advisors LLC purchased a new position in Square during the second quarter worth approximately $121,000. Hedge funds and other institutional investors own 16.89% of the company’s stock.
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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