Square Inc. (SQ) Stock Rating Upgraded by Vetr Inc.
Square Inc. (NYSE:SQ) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $11.70 target price on the stock. Vetr‘s target price indicates a potential upside of 4.56% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. BTIG Research reissued a “buy” rating and set a $12.00 price target on shares of Square in a report on Thursday, August 4th. Compass Point boosted their price target on shares of Square from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Royal Bank Of Canada reissued a “buy” rating on shares of Square in a report on Friday, June 17th. Mizuho reissued a “buy” rating and set a $16.00 price target on shares of Square in a report on Thursday, August 4th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Square in a report on Thursday, August 4th. Fifteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $12.75.
Square (NYSE:SQ) traded down 0.71% during trading on Thursday, reaching $11.19. 2,600,007 shares of the company’s stock traded hands. The company has a 50-day moving average of $11.66 and a 200 day moving average of $11.23. Square has a 12 month low of $8.06 and a 12 month high of $15.91. The stock’s market capitalization is $3.82 billion.
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Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the 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 revenue for the quarter was up 54.1% on a year-over-year basis. On average, equities research analysts expect that Square will post ($0.60) earnings per share for the current fiscal year.
In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $11.27, for a total value of $4,508,000.00. Following the transaction, the director now owns 424,837 shares in the company, valued at approximately $4,787,912.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Friar sold 2,690 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total value of $26,281.30. Following the completion of the transaction, the chief financial officer now owns 114,402 shares in the company, valued at approximately $1,117,707.54. The disclosure for this sale can be found here. 42.60% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Investment House LLC increased its position in shares of Square by 486.1% in the second quarter. Investment House LLC now owns 88,855 shares of the company’s stock worth $804,000 after buying an additional 73,695 shares in the last quarter. Westwood Management Corp IL acquired a new position in shares of Square during the second quarter worth $362,000. Bollard Group LLC acquired a new position in shares of Square during the second quarter worth $1,810,000. Creative Planning increased its position in shares of Square by 76.2% in the second quarter. Creative Planning now owns 14,719 shares of the company’s stock worth $133,000 after buying an additional 6,365 shares in the last quarter. Finally, Westend Capital Management LLC acquired a new position in shares of Square during the first quarter worth $1,355,000. Institutional investors own 16.90% 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.
To view Vetr’s full report, visit Vetr’s official website.
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