Square Inc (SQ) Cut to Buy at Vetr Inc.
Square Inc (NYSE:SQ) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday. They currently have a $19.66 price target on the technology company’s stock. Vetr‘s target price would suggest a potential upside of 11.01% from the company’s current price.
Several other research firms have also weighed in on SQ. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research note on Tuesday, February 28th. Canaccord Genuity restated a “hold” rating and set a $16.00 price target on shares of Square in a research report on Wednesday, March 1st. Mizuho restated a “buy” rating on shares of Square in a research report on Monday, March 20th. BTIG Research restated a “buy” rating and set a $20.00 price target on shares of Square in a research report on Tuesday, March 28th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Square in a research report on Tuesday, March 21st. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.88.
Square (NYSE:SQ) traded up 2.97% during midday trading on Thursday, reaching $17.71. 4,897,124 shares of the company’s stock were exchanged. Square has a 52 week low of $8.42 and a 52 week high of $18.17. The firm’s market capitalization is $6.50 billion. The stock’s 50 day moving average is $16.99 and its 200 day moving average is $14.32.
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Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, February 22nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. The business earned $191.90 million during the quarter, compared to analyst estimates of $450.40 million. Square had a negative net margin of 12.55% and a negative return on equity of 31.99%. The business’s revenue was up 42.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. On average, analysts expect that Square will post ($0.25) EPS for the current fiscal year.
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In other news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $17.12, for a total value of $657,408.00. Following the completion of the sale, the chief financial officer now directly owns 375,916 shares of the company’s stock, valued at $6,435,681.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jack Dorsey sold 381,500 shares of the stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $14.56, for a total value of $5,554,640.00. The disclosure for this sale can be found here. Insiders have sold 3,263,360 shares of company stock valued at $53,510,243 in the last ninety days. Company insiders own 42.60% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Columbus Circle Investors boosted its stake in Square by 0.8% in the first quarter. Columbus Circle Investors now owns 1,944,440 shares of the technology company’s stock valued at $33,600,000 after buying an additional 14,691 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Square during the first quarter valued at $301,000. Boston Advisors LLC boosted its stake in Square by 112.7% in the first quarter. Boston Advisors LLC now owns 774,365 shares of the technology company’s stock valued at $13,381,000 after buying an additional 410,231 shares in the last quarter. Cullinan Associates Inc. boosted its stake in Square by 264.6% in the first quarter. Cullinan Associates Inc. now owns 82,400 shares of the technology company’s stock valued at $1,424,000 after buying an additional 59,800 shares in the last quarter. Finally, Howard Capital Management acquired a new stake in Square during the first quarter valued at $518,000. 24.28% of the stock is owned by institutional investors.
Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
To view Vetr’s full report, visit Vetr’s official website.
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