Evercore ISI Upgrades Square, Inc. (SQ) to Outperform
Square, Inc. (NYSE:SQ) was upgraded by investment analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report released on Friday, MarketBeat.com reports.
Several other equities research analysts have also recently issued reports on the company. Nomura boosted their price target on Square from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group, Inc. upgraded Square to a “buy” rating in a research note on Thursday. Zacks Investment Research cut Square from a “buy” rating to a “hold” rating in a research note on Tuesday. Vetr cut Square from a “strong-buy” rating to a “buy” rating and set a $43.40 price target for the company. in a research note on Monday, November 13th. Finally, Jefferies Group LLC boosted their price target on Square from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $32.37.
Shares of Square (NYSE:SQ) traded up $2.28 during trading hours on Friday, hitting $44.18. The stock had a trading volume of 39,182,443 shares, compared to its average volume of 7,564,633. Square has a 12 month low of $12.08 and a 12 month high of $45.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81.
Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The company had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business’s revenue was up 44.6% on a year-over-year basis. sell-side analysts predict that Square will post -0.16 earnings per share for the current fiscal year.
In related news, insider Ajmere Dale sold 20,286 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $39.12, for a total value of $793,588.32. Following the completion of the sale, the insider now directly owns 134,518 shares in the company, valued at $5,262,344.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction 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 sale, the director now owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The disclosure for this sale can be found here. Insiders sold 1,394,791 shares of company stock valued at $45,611,401 over the last 90 days. 32.68% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC increased its holdings in Square by 5,187.9% in the third quarter. Neuberger Berman Group LLC now owns 540,000 shares of the technology company’s stock valued at $15,557,000 after purchasing an additional 529,788 shares during the period. California Public Employees Retirement System boosted its position in Square by 4.1% during the third quarter. California Public Employees Retirement System now owns 368,151 shares of the technology company’s stock valued at $10,606,000 after acquiring an additional 14,451 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Square by 256.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 59,112 shares of the technology company’s stock valued at $1,701,000 after acquiring an additional 42,506 shares during the last quarter. Whale Rock Capital Management LLC bought a new stake in Square during the third quarter valued at $44,337,000. Finally, Janus Henderson Group PLC bought a new stake in Square during the third quarter valued at $5,039,000. Institutional investors and hedge funds own 53.24% of the company’s stock.
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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