Square Inc. (SQ) Stock Rating Lowered by Vetr Inc.
Square Inc. (NYSE:SQ) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday. They presently have a $11.70 price objective on the stock. Vetr‘s price target indicates a potential upside of 3.17% from the stock’s previous close.
Several other analysts have also weighed in on SQ. Morgan Stanley reaffirmed an “equal weight” rating and issued a $10.00 price objective (down from $12.00) on shares of Square in a research note on Thursday, June 30th. Evercore ISI lifted their price target on Square from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, August 4th. Compass Point lifted their price target on Square from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Piper Jaffray Cos. reissued a “neutral” rating and set a $11.50 price target (up from $10.00) on shares of Square in a research note on Friday, August 5th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Square in a research note on Thursday, August 4th. Sixteen 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.75.
Shares of Square (NYSE:SQ) opened at 11.34 on Wednesday. Square has a 1-year low of $8.06 and a 1-year high of $15.91. The company’s market capitalization is $3.88 billion. The company’s 50-day moving average price is $11.58 and its 200-day moving average price is $11.11.
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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, beating the consensus estimate of ($0.11) by $0.03. The business had revenue of $439 million for the quarter, compared to analyst estimates of $406.93 million. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The firm’s revenue for the quarter was up 54.1% compared to the same quarter last year. On average, equities analysts expect that Square will post ($0.60) earnings per share for the current fiscal year.
In related news, CFO Sarah Friar sold 2,690 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total transaction of $26,281.30. Following the completion of the sale, the chief financial officer now owns 114,402 shares in the company, valued at $1,117,707.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dana Wagner sold 6,953 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total value of $67,930.81. Following the sale, the insider now owns 271,315 shares of the company’s stock, valued at approximately $2,650,747.55. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.
Large investors have recently made changes to their positions in the company. Westwood Management Corp IL increased its stake in shares of Square by 62.5% in the third quarter. Westwood Management Corp IL now owns 65,000 shares of the company’s stock valued at $758,000 after buying an additional 25,000 shares during the period. Daiwa SB Investments Ltd. bought a new stake in shares of Square during the third quarter valued at about $1,562,000. First Mercantile Trust Co. bought a new stake in shares of Square during the third quarter valued at about $332,000. Cullinan Associates Inc. bought a new stake in shares of Square during the third quarter valued at about $527,000. Finally, Royal Bank of Canada increased its stake 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 valued at $1,197,000 after buying an additional 39,020 shares during the period. Institutional investors and hedge funds 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.
To view Vetr’s full report, visit Vetr’s official website.
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