Square, Inc. (NYSE:SQ) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Wednesday. They presently have a $32.96 target price on the technology company’s stock. Vetr‘s price target would suggest a potential upside of 3.00% from the stock’s previous close.

SQ has been the subject of a number of other research reports. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, August 1st. Citigroup Inc. lifted their target price on shares of Square from $23.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 6th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $24.00 target price on shares of Square in a report on Wednesday, July 26th. Bank of America Corporation lifted their target price on shares of Square from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $26.00 target price (up previously from $25.00) on shares of Square in a report on Wednesday, August 9th. Thirteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Square presently has an average rating of “Buy” and an average price target of $25.50.

Shares of Square (NYSE SQ) traded up 2.17% during midday trading on Wednesday, hitting $32.00. Square has a 12-month low of $10.88 and a 12-month high of $32.00. The stock’s market capitalization is $12.28 billion. The company’s 50 day moving average price is $27.91 and its 200-day moving average price is $23.62.

Square (NYSE:SQ) last released its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The firm had revenue of $240.00 million during the quarter, compared to analyst estimates of $228.64 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 40.4% compared to the same quarter last year. On average, equities analysts anticipate that Square will post $0.24 earnings per share for the current year.

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In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total value of $10,008,000.00. Following the sale, the director now directly owns 507,385 shares in the company, valued at approximately $12,694,772.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total transaction of $490,368.00. Following the completion of the sale, the chief financial officer now owns 366,103 shares in the company, valued at $9,350,270.62. The disclosure for this sale can be found here. Insiders sold a total of 972,800 shares of company stock worth $25,520,512 over the last ninety days. 32.68% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Almanack Investment Partners LLC. acquired a new stake in Square in the 2nd quarter valued at $117,000. Pacer Advisors Inc. increased its stake in Square by 22.7% in the 1st quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after buying an additional 1,090 shares during the last quarter. Riverhead Capital Management LLC acquired a new stake in Square in the 2nd quarter valued at $149,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after buying an additional 1,099 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in Square by 683.7% in the 2nd quarter. CENTRAL TRUST Co now owns 8,613 shares of the technology company’s stock valued at $203,000 after buying an additional 7,514 shares during the last quarter. Hedge funds and other institutional investors own 53.83% of the company’s stock.

About Square

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.

Analyst Recommendations for Square (NYSE:SQ)

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