Square Inc. (NYSE:SQ) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $11.70 price objective on the stock. Vetr‘s price objective would indicate a potential upside of 5.22% from the company’s previous close.
Other research analysts have also issued reports about the company. Royal Bank Of Canada reiterated a “buy” rating on shares of Square in a research report on Friday, June 17th. SunTrust Banks Inc. increased 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 increased 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. BTIG Research reissued a “buy” rating and issued a $12.00 price target on shares of Square in a research note on Thursday, August 4th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $10.00 price target (down previously from $12.00) on shares of Square in a research note on Thursday, June 30th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $12.75.
Square (NYSE:SQ) opened at 11.12 on Thursday. The stock’s market cap is $3.80 billion. The stock’s 50 day moving average price is $11.63 and its 200-day moving average price is $11.21. Square has a one year low of $8.06 and a one year 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 firm had revenue of $439 million for the quarter, compared to analyst estimates of $406.93 million. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The firm’s revenue was up 54.1% compared to the same quarter last year. On average, analysts predict that Square will post ($0.60) earnings per share for the current year.
In related news, CFO Sarah Friar sold 2,690 shares of Square 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 in the company, valued at $1,117,707.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dana Wagner sold 6,953 shares of Square stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total value of $67,930.81. Following the transaction, the insider now owns 271,315 shares of the company’s stock, valued at approximately $2,650,747.55. The disclosure for this sale can be found here. 42.60% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new position in Square during the second quarter worth approximately $107,000. Ancora Inverness LLC acquired a new position in Square during the second quarter worth approximately $109,000. Emerald Acquisition Ltd. acquired a new position in Square during the second quarter worth approximately $115,000. Passport Capital LLC acquired a new position in Square during the second quarter worth approximately $116,000. Finally, HighTower Advisors LLC acquired a new position in Square during the second quarter worth approximately $121,000. Institutional investors and hedge funds own 16.90% 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.
To view Vetr’s full report, visit Vetr’s official website.
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