Nomura Boosts Square, Inc. (SQ) Price Target to $45.00
Square, Inc. (NYSE:SQ) had its target price hoisted by stock analysts at Nomura from $33.00 to $45.00 in a report issued on Tuesday. The firm currently has a “buy” rating on the technology company’s stock. Nomura’s target price would suggest a potential upside of 25.87% from the stock’s current price.
A number of other research analysts have also commented on the company. Vetr upgraded Square from a “buy” rating to a “strong-buy” rating and set a $39.78 price target for the company in a report on Wednesday, October 25th. Bank of America Corporation started coverage on Square in a report on Tuesday, September 12th. They set a “neutral” rating for the company. Citigroup Inc. upped their target price on Square from $23.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 6th. Cantor Fitzgerald started coverage on Square in a research note on Tuesday, September 12th. They issued an “overweight” rating and a $31.00 target price for the company. Finally, CIBC started coverage on Square in a research note on Thursday, October 12th. They issued an “outperform” rating and a $35.00 target price for the company. Eleven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $27.62.
Shares of Square (NYSE:SQ) opened at 35.75 on Tuesday. Square has a 52 week low of $11.00 and a 52 week high of $35.81. The company has a 50 day moving average of $30.56 and a 200-day moving average of $25.19. The company’s market cap is $13.72 billion.
Square (NYSE:SQ) last issued its quarterly 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 return on equity of 12.41% and a negative net margin of 4.13%. The company had revenue of $240.00 million during the quarter, compared to analyst estimates of $228.64 million. During the same period in the previous year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was up 40.4% compared to the same quarter last year. On average, equities research analysts expect that Square will post $0.24 earnings per share for the current fiscal year.
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In related news, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $25.58, for a total value of $982,272.00. Following the transaction, the chief financial officer now owns 366,103 shares in the company, valued at $9,364,914.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 507,385 shares in the company, valued at approximately $12,694,772.70. The disclosure for this sale can be found here. Insiders have sold 1,353,600 shares of company stock worth $38,351,040 in the last 90 days. Company insiders own 32.68% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Makena Capital Management LLC bought a new position in Square in the second quarter valued at about $4,561,000. California Public Employees Retirement System boosted its holdings in Square by 10.3% in the second quarter. California Public Employees Retirement System now owns 353,700 shares of the technology company’s stock valued at $8,298,000 after acquiring an additional 33,100 shares during the last quarter. Royce & Associates LP boosted its holdings in Square by 55.6% in the second quarter. Royce & Associates LP now owns 235,000 shares of the technology company’s stock valued at $5,513,000 after acquiring an additional 84,000 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Square by 2.9% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,190,200 shares of the technology company’s stock valued at $74,842,000 after acquiring an additional 90,200 shares during the last quarter. Finally, Allen Operations LLC boosted its holdings in Square by 7.2% in the second quarter. Allen Operations LLC now owns 210,825 shares of the technology company’s stock valued at $4,946,000 after acquiring an additional 14,228 shares during the last quarter. Institutional investors and hedge funds own 54.04% 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.
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