Square Inc (NYSE:SQ) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They presently have a $21.95 target price on the technology company’s stock. Vetr‘s price objective points to a potential upside of 1.43% from the company’s current price.
A number of other research firms have also commented on SQ. Credit Suisse Group AG upped their price objective on shares of Square from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd. BTIG Research upped their price objective on shares of Square to $16.50 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Canaccord Genuity reaffirmed a “hold” rating and set a $16.00 price objective on shares of Square in a research note on Wednesday, March 1st. Royal Bank of Canada reduced their price target on shares of Square to $18.00 and set a “buy” rating for the company in a research report on Monday, April 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target (up from $20.00) on shares of Square in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Square has a consensus rating of “Buy” and a consensus price target of $18.50.
Square (NYSE:SQ) opened at 21.64 on Monday. The firm’s market cap is $8.10 billion. Square has a 52-week low of $8.42 and a 52-week high of $21.75. The stock has a 50 day moving average of $18.56 and a 200-day moving average of $15.71.
Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, May 3rd. The technology company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. Square had a negative net margin of 12.55% and a negative return on equity of 31.99%. The company had revenue of $461.55 million during the quarter, compared to analyst estimates of $450.66 million. On average, analysts expect that Square will post ($0.19) EPS for the current year.
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In other Square news, major shareholder Ventures Iii L.P. Khosla sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $17.30, for a total transaction of $17,300,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 90,000 shares of the stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $16.78, for a total value of $1,510,200.00. Following the transaction, the director now owns 186,308 shares in the company, valued at approximately $3,126,248.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,183,338 shares of company stock worth $56,299,960. Corporate insiders own 42.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Square by 848.3% in the fourth quarter. FMR LLC now owns 8,940,999 shares of the technology company’s stock valued at $121,866,000 after buying an additional 7,998,199 shares during the period. Renaissance Technologies LLC increased its position in shares of Square by 641.8% in the first quarter. Renaissance Technologies LLC now owns 8,578,500 shares of the technology company’s stock valued at $148,236,000 after buying an additional 7,422,000 shares during the period. Capital World Investors increased its position in shares of Square by 131.4% in the third quarter. Capital World Investors now owns 10,813,575 shares of the technology company’s stock valued at $126,086,000 after buying an additional 6,140,745 shares during the period. Bank of New York Mellon Corp increased its position in shares of Square by 72.1% in the first quarter. Bank of New York Mellon Corp now owns 14,480,815 shares of the technology company’s stock valued at $250,229,000 after buying an additional 6,065,730 shares during the period. Finally, BlackRock Inc. increased its position in shares of Square by 7,162.2% in the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock valued at $93,023,000 after buying an additional 5,309,197 shares during the period. Institutional investors own 24.28% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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