Other equities analysts have also issued reports about the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $23.00 price target (up from $21.00) on shares of Square in a report on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a buy rating and issued a $24.00 price target on shares of Square in a report on Wednesday, May 17th. Tigress Financial started coverage on shares of Square in a report on Friday, May 19th. They issued a buy rating on the stock. Deutsche Bank AG lifted their price target on shares of Square from $19.00 to $21.00 and gave the stock a buy rating in a report on Monday, May 15th. Finally, Zacks Investment Research raised shares of Square from a hold rating to a buy rating and set a $26.00 price target on the stock in a report on Tuesday, June 6th. Twelve analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $24.87.
Shares of Square (NYSE:SQ) opened at 27.27 on Tuesday. The stock has a 50 day moving average price of $25.72 and a 200-day moving average price of $21.73. The company’s market capitalization is $10.46 billion. Square has a 12 month low of $10.88 and a 12 month high of $27.97.
Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company 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%. Square’s revenue was up 40.4% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. Analysts forecast that Square will post $0.24 EPS for the current year.
In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’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 $12,694,772.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction dated 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 approximately $9,732,394.49. The disclosure for this sale can be found here. Insiders have sold 553,600 shares of company stock valued at $13,928,064 over the last 90 days. 32.68% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of SQ. UBS Asset Management Americas Inc. raised its position in shares of Square by 59.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 41,008 shares of the technology company’s stock worth $559,000 after acquiring an additional 15,354 shares during the period. Teachers Advisors LLC raised its position in shares of Square by 168.8% in the fourth quarter. Teachers Advisors LLC now owns 229,804 shares of the technology company’s stock worth $3,132,000 after acquiring an additional 144,308 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Square in the first quarter worth about $188,000. Russell Investments Group Ltd. raised its position in shares of Square by 186.8% in the first quarter. Russell Investments Group Ltd. now owns 190,044 shares of the technology company’s stock worth $3,285,000 after acquiring an additional 123,787 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in shares of Square by 43.4% in the first quarter. Great West Life Assurance Co. Can now owns 17,174 shares of the technology company’s stock worth $296,000 after acquiring an additional 5,200 shares during the period. Institutional investors and hedge funds own 82.02% 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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