Square, Inc. (NYSE:SQ) had its price objective hoisted by Royal Bank Of Canada from $31.00 to $41.00 in a research note released on Thursday, Marketbeat reports. Royal Bank Of Canada currently has an outperform rating on the technology company’s stock. The analysts noted that the move was a valuation call.
Several other research firms have also recently weighed in on SQ. Stifel Nicolaus cut Square from a buy rating to a hold rating and lifted their price target for the stock from $29.00 to $36.00 in a report on Wednesday, November 1st. KeyCorp reissued an overweight rating and set a $40.00 price target (up from $35.00) on shares of Square in a report on Monday, November 6th. Citigroup Inc. cut Square from a buy rating to a neutral rating and set a $38.00 price target for the company. in a report on Thursday. Guggenheim raised Square from a neutral rating to a buy rating and set a $44.00 price target for the company in a report on Thursday. Finally, Nomura lifted their price target on Square from $33.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, October 31st. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $32.17.
Square (SQ) traded up $1.25 during trading hours on Thursday, reaching $39.21. The company had a trading volume of 19,473,500 shares, compared to its average volume of 7,253,239. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48. Square has a 1-year low of $11.43 and a 1-year high of $39.73.
Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same period last year, the firm posted $0.01 EPS. equities research analysts forecast that Square will post -0.16 earnings per share for the current year.
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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the transaction, the director now directly owns 507,385 shares of the company’s stock, valued at approximately $13,811,019.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $25.58, for a total value of $982,272.00. Following the completion of the transaction, the chief financial officer now directly owns 366,103 shares in the company, valued at $9,364,914.74. The disclosure for this sale can be found here. Insiders sold a total of 1,353,600 shares of company stock worth $38,351,040 over the last three months. 32.68% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the company. FMR LLC raised its stake in Square by 114.7% during the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after buying an additional 12,764,491 shares during the period. Vanguard Group Inc. raised its stake in Square by 73.4% during the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after buying an additional 8,058,892 shares during the period. Capital World Investors raised its stake in Square by 32.8% during the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock worth $365,925,000 after buying an additional 3,853,000 shares during the period. Renaissance Technologies LLC raised its stake in Square by 5.8% during the 2nd quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock worth $212,937,000 after buying an additional 498,100 shares during the period. Finally, BlackRock Inc. raised its stake in Square by 23.0% during the 2nd quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock worth $155,282,000 after buying an additional 1,235,662 shares during the period. 53.24% of the stock is currently owned by institutional investors.
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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