Shares of Square Inc. (NYSE:SQ) have been given an average recommendation of “Hold” by the twenty-eight ratings firms that are covering the stock. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $12.59.
A number of equities analysts have issued reports on SQ shares. Craig Hallum started coverage on Square in a report on Wednesday, June 15th. They set a “hold” rating and a $7.50 target price on the stock. Royal Bank Of Canada restated a “buy” rating on shares of Square in a report on Friday, June 17th. BTIG Research restated a “buy” rating and set a $12.00 target price on shares of Square in a report on Monday, June 20th. Evercore ISI started coverage on Square in a report on Tuesday, June 21st. They set a “hold” rating and a $7.00 target price on the stock. Finally, Vetr cut Square from a “strong-buy” rating to a “buy” rating and set a $10.20 price objective on the stock. in a report on Tuesday, June 21st.
Shares of Square (NYSE:SQ) traded down 0.72% during midday trading on Wednesday, reaching $11.10. The company’s stock had a trading volume of 1,289,379 shares. The firm’s market cap is $3.79 billion. Square has a 12 month low of $8.06 and a 12 month high of $15.91. The company has a 50-day moving average price of $11.72 and a 200-day moving average price of $11.23.
Square (NYSE:SQ) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.03. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The firm had revenue of $439 million for the quarter, compared to analysts’ expectations of $406.93 million. The company’s revenue for the quarter was up 54.1% on a year-over-year basis. Equities analysts expect that Square will post ($0.60) earnings per share for the current year.
In related news, Director Lawrence Henry Summers sold 23,125 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $12.50, for a total value of $289,062.50. Following the completion of the sale, the director now directly owns 50,507 shares in the company, valued at approximately $631,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $11.27, for a total value of $4,508,000.00. Following the completion of the sale, the director now owns 424,837 shares of the company’s stock, valued at $4,787,912.99. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Square by 28.0% in the first quarter. BlackRock Inc. now owns 42,526 shares of the company’s stock worth $649,000 after buying an additional 9,309 shares during the last quarter. Creative Planning increased its stake in Square by 76.2% in the second quarter. Creative Planning now owns 14,719 shares of the company’s stock worth $133,000 after buying an additional 6,365 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Square during the first quarter worth $206,000. American Century Companies Inc. bought a new stake in Square during the second quarter worth $183,000. Finally, Geode Capital Management LLC increased its stake in Square by 858.7% in the first quarter. Geode Capital Management LLC now owns 160,378 shares of the company’s stock worth $2,450,000 after buying an additional 143,650 shares during the last quarter. Institutional investors and hedge funds own 16.90% 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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