A number of other research firms have also commented on SQ. Vetr lowered shares of Square from a strong-buy rating to a buy rating and set a $13.56 price target for the company. in a research report on Wednesday, August 31st. BTIG Research lowered shares of Square from a buy rating to a neutral rating and reduced their price target for the company from $15.91 to $12.00 in a research report on Monday, August 29th. Stifel Nicolaus upgraded shares of Square from a hold rating to a buy rating and boosted their price target for the company from $8.06 to $15.00 in a research report on Monday, August 22nd. Jefferies Group restated a buy rating and set a $15.00 price target on shares of Square in a research report on Wednesday, September 28th. Finally, Zacks Investment Research upgraded shares of Square from a hold rating to a buy rating and set a $13.00 price target for the company in a research report on Thursday. Fourteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $12.76.
Square (NYSE:SQ) traded down 0.78% during midday trading on Thursday, reaching $11.43. The company’s stock had a trading volume of 1,291,273 shares. Square has a 12 month low of $8.06 and a 12 month high of $15.91. The stock has a 50-day moving average price of $11.76 and a 200 day moving average price of $11.28. The company’s market cap is $3.91 billion.
Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The firm earned $439 million during the quarter, compared to analyst estimates of $406.93 million. Square had a negative net margin of 14.85% and a negative return on equity of 37.14%. Square’s revenue for the quarter was up 54.1% compared to the same quarter last year. Analysts expect that Square will post ($0.60) earnings per share for the current fiscal year.
In other news, CFO Sarah Friar sold 2,690 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total transaction of $26,281.30. Following the sale, the chief financial officer now owns 114,402 shares in the company, valued at $1,117,707.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Dana Wagner sold 6,953 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total transaction of $67,930.81. Following the sale, the insider now owns 271,315 shares in the company, valued at approximately $2,650,747.55. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. State Treasurer State of Michigan purchased a new stake in Square during the second quarter worth approximately $102,710,000. Loomis Sayles & Co. L P purchased a new stake in Square during the first quarter worth approximately $20,557,000. Vanguard Group Inc. boosted its stake in Square by 72.6% in the second quarter. Vanguard Group Inc. now owns 2,606,190 shares of the company’s stock worth $23,586,000 after buying an additional 1,095,830 shares during the last quarter. Rizvi Traverse Management LLC boosted its stake in Square by 2,286.1% in the second quarter. Rizvi Traverse Management LLC now owns 1,048,620 shares of the company’s stock worth $9,490,000 after buying an additional 1,004,673 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Square during the second quarter worth approximately $7,345,000. Hedge funds and other institutional investors own 16.89% of the company’s stock.
Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.
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