Zacks Investment Research upgraded shares of Square Inc. (NYSE:SQ) from a hold rating to a buy rating in a research report sent to investors on Thursday. They currently have $13.00 price target on the stock.
According to Zacks, “Square, Inc. offers financial services and marketing services. The Company provides payments and point-of-sale which include hardware and software to accept payments, streamline operations and analyze business information. Its payments and POS services include In-Person Payments, Online Payments, Square Cash, Square Register, Square Analytics, Square Appointments and Square App Marketplace. The Company’s financial services include Square Capital and Square Payroll. Square, Inc. is headquartered in San Francisco, California. “
A number of other analysts have also recently weighed in on SQ. Craig Hallum initiated coverage on shares of Square in a report on Wednesday, June 15th. They issued a hold rating and a $7.50 price objective on the stock. Royal Bank Of Canada reiterated a buy rating on shares of Square in a research report on Friday, June 17th. BTIG Research reiterated a buy rating and issued a $12.00 target price on shares of Square in a research report on Monday, June 20th. Evercore ISI assumed coverage on shares of Square in a research report on Tuesday, June 21st. They issued a hold rating and a $7.00 target price for the company. Finally, Vetr lowered shares of Square from a strong-buy rating to a buy rating and set a $10.20 target price for the company. in a research report on Tuesday, June 21st. Sixteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $12.74.
Square (NYSE:SQ) opened at 11.47 on Thursday. The firm’s market cap is $3.92 billion. Square has a 12 month low of $8.06 and a 12 month high of $15.91. The firm’s 50-day moving average is $11.74 and its 200-day moving average is $11.23.
Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.03. Square had a negative net margin of 14.85% and a negative return on equity of 37.14%. The business had revenue of $439 million for the quarter, compared to analysts’ expectations of $406.93 million. The company’s revenue for the quarter was up 54.1% on a year-over-year basis. Equities analysts expect that Square will post ($0.60) earnings per share for the current year.
In other Square news, insider Dana Wagner sold 6,953 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total value of $67,930.81. Following the completion of the transaction, the insider now directly owns 271,315 shares in the company, valued at $2,650,747.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sarah Friar sold 2,690 shares of the firm’s stock in a transaction dated 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 owns 114,402 shares of the company’s stock, valued at $1,117,707.54. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SQ. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Square during the second quarter valued at approximately $107,000. Ancora Inverness LLC purchased a new position in shares of Square during the second quarter valued at approximately $109,000. Emerald Acquisition Ltd. purchased a new position in shares of Square during the second quarter valued at approximately $115,000. Passport Capital LLC purchased a new position in shares of Square during the second quarter valued at approximately $116,000. Finally, HighTower Advisors LLC purchased a new position in shares of Square during the second quarter valued at approximately $121,000. Institutional investors own 16.90% of the company’s stock.
Square Company Profile
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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