Square, Inc. (NYSE:SQ) Price Target Raised to $28.00 at Deutsche Bank AG

Square, Inc. (NYSE:SQ) had its price objective raised by Deutsche Bank AG to $28.00 in a research report released on Monday, July 24th. The firm currently has a buy rating on the technology company’s stock.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods reissued a hold rating and issued a $17.00 target price on shares of Square in a research report on Monday, March 27th. BTIG Research reissued a buy rating and issued a $20.00 target price on shares of Square in a research report on Tuesday, March 28th. Vetr downgraded Square from a strong-buy rating to a buy rating and set a $19.66 price target for the company. in a research note on Thursday, April 20th. Royal Bank Of Canada cut their price target on Square to $18.00 and set a buy rating for the company in a research note on Monday, April 24th. Finally, Zacks Investment Research downgraded Square from a strong-buy rating to a hold rating in a research note on Tuesday, April 25th. Eleven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $24.61.

Shares of Square (SQ) traded up 0.69% during trading on Monday, reaching $24.82. 5,266,455 shares of the company traded hands. The firm’s market capitalization is $9.52 billion. Square has a 12-month low of $10.88 and a 12-month high of $27.97. The company has a 50 day moving average price of $25.32 and a 200 day moving average price of $20.07.

Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The firm had revenue of $240 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 40.4% on a year-over-year basis. On average, equities analysts predict that Square will post $0.24 EPS for the current year.

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In other news, Director James Morgan Jr. Mckelvey sold 90,000 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $23.36, for a total value of $2,102,400.00. Following the completion of the transaction, the director now directly owns 186,308 shares in the company, valued at $4,352,154.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $22.09, for a total value of $848,256.00. Following the completion of the transaction, the chief financial officer now owns 375,023 shares of the company’s stock, valued at $8,284,258.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 914,900 shares of company stock valued at $20,202,610. 32.68% 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. boosted its position in shares of Square by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock valued at $175,000 after buying an additional 30 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Square by 1.3% in the second quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock valued at $357,000 after buying an additional 193 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Square by 2.1% in the second quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock valued at $240,000 after buying an additional 212 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Square by 1.8% in the first quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock valued at $461,000 after buying an additional 473 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Square by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock valued at $1,084,000 after buying an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 76.25% of the company’s stock.

Square Company Profile

Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.

Analyst Recommendations for Square (NYSE:SQ)

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