Other equities research analysts also recently issued reports about the company. Vetr downgraded Square from a strong-buy rating to a buy rating and set a $9.81 price objective for the company. in a report on Monday, July 11th. BTIG Research reissued a buy rating and issued a $12.00 price objective on shares of Square in a report on Friday, July 8th. Royal Bank Of Canada reaffirmed a buy rating on shares of Square in a report on Friday, June 17th. Compass Point increased their price target on Square from $13.00 to $14.00 and gave the stock a buy rating in a report on Thursday, August 4th. Finally, Mizuho reaffirmed a buy rating and set a $16.00 price target on shares of Square in a report on Thursday, August 4th. Fifteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $12.76.
Shares of Square (NYSE:SQ) opened at 11.67 on Wednesday. The firm’s 50-day moving average is $11.75 and its 200 day moving average is $11.27. Square has a 52 week low of $8.06 and a 52 week high of $15.91. The firm’s market cap is $3.99 billion.
Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The business earned $439 million during the quarter, compared to the consensus estimate 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. Equities research analysts forecast that Square will post ($0.60) EPS for the current year.
In other Square 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 value of $26,281.30. Following the completion of the sale, the chief financial officer now owns 114,402 shares in the company, valued at approximately $1,117,707.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Henry Summers sold 115,625 shares of Square stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $11.08, for a total value of $1,281,125.00. Following the completion of the sale, the director now owns 143,007 shares of the company’s stock, valued at approximately $1,584,517.56. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. State Treasurer State of Michigan acquired a new stake in Square during the second quarter valued at approximately $102,710,000. Loomis Sayles & Co. L P acquired a new stake in Square during the first quarter valued at approximately $20,557,000. Vanguard Group Inc. boosted its stake in Square by 72.6% in the second quarter. Vanguard Group Inc. now owns 2,606,190 shares of the company’s stock valued at $23,586,000 after buying an additional 1,095,830 shares during the period. Rizvi Traverse Management LLC boosted its stake in Square by 2,286.1% in the second quarter. Rizvi Traverse Management LLC now owns 1,048,620 shares of the company’s stock valued at $9,490,000 after buying an additional 1,004,673 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Square during the second quarter valued at approximately $7,345,000. 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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