Other equities research analysts also recently issued research reports about the company. Vetr downgraded Square from a buy rating to a hold rating and set a $9.34 price objective for the company. in a research report on Monday, July 18th. Royal Bank Of Canada reaffirmed a buy rating on shares of Square in a research report on Friday, June 17th. SunTrust Banks Inc. lifted their price objective on Square from $11.00 to $13.00 and gave the company a neutral rating in a research report on Thursday, August 4th. Evercore ISI lifted their price objective on Square from $7.00 to $8.00 and gave the company a hold rating in a research report on Thursday, August 4th. Finally, BTIG Research reaffirmed a buy rating and issued a $12.00 price objective on shares of Square in a research report on Thursday, August 4th. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Square currently has an average rating of Hold and a consensus target price of $12.74.
Shares of Square (NYSE:SQ) opened at 11.18 on Thursday. The firm’s market cap is $3.82 billion. The firm has a 50-day moving average price of $11.72 and a 200-day moving average price of $11.23. Square has a 52-week low of $8.06 and a 52-week high of $15.91.
Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.03. The business earned $439 million during the quarter, compared to the consensus estimate of $406.93 million. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The company’s quarterly revenue was up 54.1% on a year-over-year basis. Analysts predict that Square will post ($0.60) EPS for the current fiscal year.
In other news, CFO Sarah Friar sold 2,690 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total transaction of $26,281.30. Following the completion of the transaction, the chief financial officer now directly owns 114,402 shares of the company’s stock, valued at $1,117,707.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana Wagner sold 6,953 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total value of $67,930.81. Following the transaction, the insider now directly owns 271,315 shares of the company’s stock, valued at $2,650,747.55. The disclosure for this sale can be found here. Company insiders own 42.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of SQ. Cambridge Investment Research Advisors Inc. bought a new position in Square during the second quarter valued at approximately $107,000. Ancora Inverness LLC bought a new position in Square during the second quarter valued at approximately $109,000. Emerald Acquisition Ltd. bought a new position in Square during the second quarter valued at approximately $115,000. Passport Capital LLC bought a new position in Square during the second quarter valued at approximately $116,000. Finally, HighTower Advisors LLC bought a new position in Square during the second quarter valued at approximately $121,000. 16.90% of the stock is owned by institutional investors.
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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