Square Inc. (NYSE:SQ)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group in a research report issued to clients and investors on Wednesday. They presently have a $15.00 target price on the stock. Jefferies Group’s price objective suggests a potential upside of 28.87% from the stock’s previous close.
A number of other equities research analysts have also issued reports on the company. Mizuho reissued a “top pick” rating and issued a $16.00 target price on shares of Square in a research report on Wednesday, September 14th. Vetr raised Square from a “buy” rating to a “strong-buy” rating and set a $13.47 target price on the stock in a research report on Tuesday, September 6th. BTIG Research lowered Square from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.91 to $12.00 in a research report on Monday, August 29th. Stifel Nicolaus raised Square from a “hold” rating to a “buy” rating and lifted their target price for the company from $8.06 to $15.00 in a research report on Monday, August 22nd. Finally, Piper Jaffray Cos. reissued a “neutral” rating and issued a $11.50 target price (up previously from $10.00) on shares of Square in a research report on Friday, August 5th. Fifteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $12.81.
Square (NYSE:SQ) opened at 11.64 on Wednesday. Square has a 52 week low of $8.06 and a 52 week high of $15.91. The firm’s market capitalization is $3.98 billion. The company has a 50 day moving average price of $11.74 and a 200-day moving average price of $11.28.
Square (NYSE:SQ) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.03. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The business had revenue of $439 million for the quarter, compared to analyst estimates of $406.93 million. The company’s quarterly revenue was up 54.1% on a year-over-year basis. Equities analysts predict that Square will post ($0.60) earnings per share for the current year.
In other news, insider Dana Wagner sold 6,953 shares of Square 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 $67,930.81. Following the completion of the transaction, the insider now directly owns 271,315 shares in the company, valued at approximately $2,650,747.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sarah Friar sold 2,690 shares of Square stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total value of $26,281.30. Following 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. Insiders own 42.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bollard Group LLC acquired a new position in shares of Square during the second quarter valued at approximately $1,810,000. Creative Planning increased its stake in Square by 76.2% in the second quarter. Creative Planning now owns 14,719 shares of the company’s stock valued at $133,000 after buying an additional 6,365 shares during the period. Westend Capital Management LLC purchased a new stake in Square during the first quarter valued at about $1,355,000. A.R.T. Advisors LLC purchased a new stake in Square during the first quarter valued at about $4,052,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Square during the first quarter valued at about $704,000. 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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