Square, Inc. (SQ) Upgraded to Buy at Vetr Inc.
Square, Inc. (NYSE:SQ) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $34.27 price objective on the technology company’s stock. Vetr‘s price target would indicate a potential upside of 4.83% from the stock’s previous close.
A number of other equities research analysts have also issued reports on SQ. Mizuho started coverage on shares of Square in a report on Wednesday, June 28th. They set a “buy” rating and a $28.00 price target on the stock. Citigroup Inc. boosted their price target on shares of Square from $23.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and set a $28.00 price target on shares of Square in a report on Thursday, July 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $19.50 price target on shares of Square in a report on Thursday, July 6th. Finally, KeyCorp restated an “overweight” rating on shares of Square in a report on Tuesday, July 18th. Eleven analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Square has an average rating of “Buy” and a consensus price target of $26.32.
Shares of Square (NYSE:SQ) traded down 1.60% on Tuesday, hitting $32.69. 10,864,422 shares of the stock were exchanged. The company’s market cap is $12.54 billion. The firm’s 50-day moving average is $28.42 and its 200-day moving average is $23.89. Square has a one year low of $10.88 and a one year high of $33.31.
Square (NYSE:SQ) last released its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, beating the consensus estimate 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 business had revenue of $240.00 million during the quarter, compared to analyst estimates of $228.64 million. During the same period in the prior year, the business earned ($0.08) earnings per share. The business’s quarterly revenue was up 40.4% on a year-over-year basis. On average, equities analysts forecast that Square will post $0.24 EPS for the current fiscal year.
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In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the completion of the sale, the director now directly owns 507,385 shares of the company’s stock, valued at approximately $12,694,772.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $25.58, for a total transaction of $982,272.00. Following the sale, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at $9,364,914.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 953,600 shares of company stock worth $25,263,040. 32.68% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Regents of The University of California bought a new stake in shares of Square during the 2nd quarter worth $4,692,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Square by 54.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 234,768 shares of the technology company’s stock worth $5,508,000 after buying an additional 82,768 shares during the period. Cypress Wealth Advisors LLC boosted its holdings in shares of Square by 71.0% during the 2nd quarter. Cypress Wealth Advisors LLC now owns 107,747 shares of the technology company’s stock worth $2,802,000 after buying an additional 44,750 shares during the period. National Asset Management Inc. boosted its holdings in shares of Square by 21.6% during the 2nd quarter. National Asset Management Inc. now owns 12,444 shares of the technology company’s stock worth $292,000 after buying an additional 2,209 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Square by 285.7% during the 2nd quarter. California State Teachers Retirement System now owns 395,757 shares of the technology company’s stock worth $9,284,000 after buying an additional 293,137 shares during the period. 53.97% of the stock is owned by institutional investors and hedge funds.
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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