Vetr Inc. Downgrades Square, Inc. (SQ) to Buy

Square, Inc. (NYSE:SQ) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday. They currently have a $43.40 target price on the technology company’s stock. Vetr‘s price target would indicate a potential upside of 9.21% from the stock’s current price.

SQ has been the subject of a number of other research reports. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, August 1st. Credit Suisse Group upped their price target on Square from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. Cantor Fitzgerald upped their price target on Square to $41.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $24.00 price target on shares of Square in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $31.00 price target on shares of Square in a research report on Sunday, October 8th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Square has a consensus rating of “Buy” and a consensus target price of $32.28.

Square (NYSE:SQ) opened at $39.74 on Monday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48. Square has a 52-week low of $11.76 and a 52-week high of $40.50.

Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $257.12 million during the quarter, compared to analyst estimates of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. Square’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. sell-side analysts anticipate that Square will post -0.16 earnings per share for the current fiscal year.

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In other Square news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $25.58, for a total transaction of $982,272.00. Following the sale, the chief financial officer now directly owns 366,103 shares in the company, valued at approximately $9,364,914.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $27.22, for a total value of $10,888,000.00. Following the sale, the director now owns 507,385 shares in the company, valued at $13,811,019.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 994,791 shares of company stock worth $29,951,401. Company insiders own 32.68% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Raymond James Trust N.A. boosted its stake in shares of Square by 1.3% in the 2nd quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock worth $357,000 after buying an additional 193 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Square by 2.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock worth $240,000 after buying an additional 212 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Square by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock worth $1,084,000 after buying an additional 513 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Square by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,706 shares of the technology company’s stock worth $274,000 after buying an additional 921 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after buying an additional 1,099 shares during the last quarter. Hedge funds and other institutional investors own 53.24% of the company’s stock.

About Square

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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