Equities researchers at Keefe, Bruyette & Woods assumed coverage on shares of Square Inc. (NYSE:SQ) in a report released on Thursday. The firm set a “mkt perform” rating on the stock.
Several other research firms have also recently issued reports on SQ. Vetr cut shares of Square from a “strong-buy” rating to a “buy” rating and set a $13.56 target price on the stock. in a research note on Wednesday, August 31st. BTIG Research cut shares of Square from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $15.91 to $12.00 in a research note on Monday, August 29th. Stifel Nicolaus upgraded shares of Square from a “hold” rating to a “buy” rating and raised their price objective for the company from $8.06 to $15.00 in a research report on Monday, August 22nd. Jefferies Group restated a “buy” rating and set a $15.00 price objective on shares of Square in a research report on Wednesday, September 28th. Finally, Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Square presently has an average rating of “Buy” and a consensus target price of $12.76.
Shares of Square (NYSE:SQ) traded down 1.20% during mid-day trading on Thursday, reaching $11.55. 1,760,499 shares of the company’s stock were exchanged. The stock’s market cap is $3.95 billion. The company has a 50 day moving average price of $11.76 and a 200-day moving average price of $11.27. Square has a one year low of $8.06 and a one year high of $15.91.
Square (NYSE:SQ) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. Square had a negative net margin of 14.85% and a negative return on equity of 37.14%. The business had revenue of $439 million for the quarter, compared to analysts’ expectations of $406.93 million. Square’s quarterly revenue was up 54.1% compared to the same quarter last year. On average, analysts predict that Square will post ($0.60) EPS for the current year.
In related news, insider Dana Wagner sold 6,953 shares of Square stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total transaction of $67,930.81. Following the completion of the transaction, the insider now directly owns 271,315 shares of the company’s stock, valued at approximately $2,650,747.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $11.27, for a total transaction of $4,508,000.00. Following the transaction, the director now directly owns 424,837 shares of the company’s stock, valued at $4,787,912.99. The disclosure for this sale can be found here. Insiders own 42.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. TIAA CREF Investment Management LLC boosted its position in shares of Square by 110.0% in the first quarter. TIAA CREF Investment Management LLC now owns 177,978 shares of the company’s stock worth $2,720,000 after buying an additional 93,239 shares during the period. BlackRock Inc. boosted its position in shares of Square by 28.0% in the first quarter. BlackRock Inc. now owns 42,526 shares of the company’s stock valued at $649,000 after buying an additional 9,309 shares during the period. BlackRock Group LTD boosted its position in shares of Square by 22.9% in the first quarter. BlackRock Group LTD now owns 712,536 shares of the company’s stock valued at $10,889,000 after buying an additional 132,994 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Square during the first quarter valued at about $206,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Square during the first quarter valued at about $20,557,000. 16.89% of the stock is owned by institutional investors.
Square Company Profile
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.
Receive News & Ratings for Square Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square Inc. and related companies with MarketBeat.com's FREE daily email newsletter.