Equities researchers at Oppenheimer Holdings, Inc. initiated coverage on shares of Square, Inc. (NYSE:SQ) in a research note issued to investors on Thursday. The brokerage set an “outperform” rating and a $35.00 price target on the technology company’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 9.38% from the stock’s current price.

SQ has been the topic 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 on the stock in a research note on Tuesday, August 1st. Mizuho assumed coverage on shares of Square in a research note on Wednesday, June 28th. They set a “buy” rating and a $28.00 target price on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Square in a research note on Thursday, July 6th. Vetr lowered shares of Square from a “strong-buy” rating to a “buy” rating and set a $30.12 price objective on the stock. in a research note on Tuesday, September 12th. Finally, Credit Suisse Group boosted their price objective on shares of Square from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Thirteen equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $25.82.

Shares of Square (NYSE SQ) opened at 32.00 on Thursday. Square has a 12 month low of $10.88 and a 12 month high of $32.00. The firm’s 50-day moving average is $27.91 and its 200-day moving average is $23.62. The company’s market cap is $12.28 billion.

Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $240.00 million for the quarter, compared to analyst estimates of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The company’s revenue for the quarter was up 40.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) EPS. On average, equities research analysts predict 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 the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $27.22, for a total value of $10,888,000.00. Following the completion of the transaction, the director now directly owns 507,385 shares in the company, valued at $13,811,019.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $26.39, for a total transaction of $1,013,376.00. Following the completion of the transaction, the chief financial officer now owns 368,791 shares of the company’s stock, valued at $9,732,394.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 972,800 shares of company stock valued at $25,520,512. 32.68% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. FMR LLC boosted its position in shares of Square by 114.7% during the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after acquiring an additional 12,764,491 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Square by 73.4% during the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after acquiring an additional 8,058,892 shares during the last quarter. Capital World Investors boosted its position in shares of Square by 32.8% during the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock worth $365,925,000 after acquiring an additional 3,853,000 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Square by 5.8% during the second quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock worth $212,937,000 after acquiring an additional 498,100 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Square by 23.0% during the second quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock worth $155,282,000 after acquiring an additional 1,235,662 shares during the last quarter. Hedge funds and other institutional investors own 53.83% of the company’s stock.

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.

Analyst Recommendations for Square (NYSE:SQ)

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