Square (NYSE:SQ) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage currently has a $57.03 price objective on the technology company’s stock. Vetr‘s target price would indicate a potential downside of 1.14% from the stock’s current price.
Several other equities research analysts also recently commented on SQ. Credit Suisse Group reaffirmed a “positive” rating and issued a $37.00 target price (up previously from $31.00) on shares of Square in a research note on Monday, November 20th. Oppenheimer reaffirmed a “buy” rating on shares of Square in a research note on Monday, November 20th. Wells Fargo assumed coverage on shares of Square in a research note on Tuesday, November 21st. They issued a “market perform” rating and a $42.00 target price for the company. BTIG Research cut shares of Square from a “neutral” rating to a “sell” rating and upped their price target for the company from $12.38 to $30.00 in a report on Monday, November 27th. Finally, Cowen assumed coverage on shares of Square in a report on Monday, December 11th. They issued a “market perform” rating and a $36.00 price target for the company. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $42.73.
Shares of Square stock opened at $57.69 on Monday. Square has a 12 month low of $16.11 and a 12 month high of $58.07. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The company has a market cap of $21,755.98, a P/E ratio of -360.56 and a beta of 4.56.
Square (NYSE:SQ) last issued its earnings results on Tuesday, February 27th. The technology company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Square had a negative net margin of 2.84% and a negative return on equity of 6.60%. The firm had revenue of $616.04 million during the quarter, compared to the consensus estimate of $601.63 million. equities research analysts forecast that Square will post 0.02 EPS for the current fiscal year.
In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $39.79, for a total value of $15,916,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Hillary B. Smith sold 1,551 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $35.12, for a total transaction of $54,471.12. Following the completion of the sale, the insider now owns 487,482 shares of the company’s stock, valued at approximately $17,120,367.84. The disclosure for this sale can be found here. Insiders have sold 1,321,457 shares of company stock valued at $60,422,201 in the last 90 days. 32.68% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Strs Ohio acquired a new stake in Square in the fourth quarter valued at $110,000. Harvest Fund Management Co. Ltd acquired a new stake in Square in the fourth quarter valued at $131,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Square in the fourth quarter valued at $139,000. American International Group Inc. acquired a new stake in Square in the fourth quarter valued at $200,000. Finally, Commerce Bank acquired a new stake in Square in the fourth quarter valued at $201,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.
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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.
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