Research analysts at Wells Fargo & Company initiated coverage on shares of Square, Inc. (NYSE:SQ) in a report released on Tuesday, MarketBeat Ratings reports. The firm set a “market perform” rating and a $42.00 price target on the technology company’s stock. Wells Fargo & Company’s price target suggests a potential downside of 12.61% from the stock’s previous close.

SQ has been the topic of a number of other reports. Citigroup Inc. lifted their target price on Square from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $30.12 target price on the stock. in a research report on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) raised Square to a “buy” rating in a research report on Thursday, November 16th. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, August 1st. Finally, Oppenheimer Holdings, Inc. began coverage on Square in a research report on Thursday, October 12th. They set an “outperform” rating and a $35.00 target price on the stock. Fifteen research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $33.44.

Square (SQ) traded up $2.85 during mid-day trading on Tuesday, reaching $48.06. The company had a trading volume of 28,485,744 shares, compared to its average volume of 7,751,499. Square has a fifty-two week low of $12.25 and a fifty-two week high of $48.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81.

Square (NYSE:SQ) last released its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share 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 business had revenue of $257.12 million for the quarter, compared to the consensus estimate of $244.95 million. During the same period last year, the business earned $0.01 earnings per share. The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. sell-side analysts predict that Square will post -0.16 earnings per share for the current fiscal 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 on Monday, September 11th. The shares were sold at an average price of $27.22, for a total transaction of $10,888,000.00. Following the completion of the sale, the director now owns 507,385 shares in the company, valued at approximately $13,811,019.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $25.58, for a total transaction of $982,272.00. Following the completion of the transaction, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at approximately $9,364,914.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,394,791 shares of company stock valued at $45,611,401 in the last quarter. Corporate insiders own 32.68% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC grew its holdings in shares of Square by 5,187.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 540,000 shares of the technology company’s stock valued at $15,557,000 after buying an additional 529,788 shares during the period. California Public Employees Retirement System grew its holdings in shares of Square by 4.1% in the 3rd quarter. California Public Employees Retirement System now owns 368,151 shares of the technology company’s stock valued at $10,606,000 after buying an additional 14,451 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Square by 256.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 59,112 shares of the technology company’s stock valued at $1,701,000 after buying an additional 42,506 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Square in the 3rd quarter valued at $44,337,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Square in the 3rd quarter valued at $5,039,000. 53.64% of the stock is owned by institutional investors.

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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