Square Inc. (SQ) Shares Up 1.1%
Square Inc. (NYSE:SQ) shot up 1.1% during trading on Tuesday . The stock traded as high as $9.44 and last traded at $9.37, with a volume of 1,023,096 shares trading hands. The stock had previously closed at $9.27.
Several equities research analysts recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and issued a $10.00 price objective (down from $12.00) on shares of Square in a research note on Thursday, June 30th. Stephens assumed coverage on Square in a research note on Monday, May 23rd. They issued an “overweight” rating for the company. Royal Bank Of Canada reissued a “buy” rating on shares of Square in a research note on Sunday, May 8th. Vetr lowered Square from a “strong-buy” rating to a “buy” rating and set a $16.69 target price on the stock. in a research report on Wednesday, April 6th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Square in a research report on Sunday, May 8th. Sixteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $12.21.
The stock’s 50 day moving average price is $9.20 and its 200-day moving average price is $10.92. The firm’s market cap is $3.13 billion.
Square (NYSE:SQ) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.05. The business earned $146 million during the quarter, compared to analysts’ expectations of $342.66 million. Square’s quarterly revenue was up 64.0% compared to the same quarter last year. On average, equities research analysts forecast that Square Inc. will post ($0.61) earnings per share for the current fiscal year.
In related news, insider Dana Wagner sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $9.43, for a total value of $1,886,000.00. Following the transaction, the insider now owns 353,268 shares of the company’s stock, valued at approximately $3,331,317.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jack Dorsey sold 168,750 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $9.12, for a total transaction of $1,539,000.00. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Square stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Square Inc. (NYSE:SQ) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor bought 564,920 shares of the company’s stock, valued at approximately $6,729,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.36% of Square at the end of the most recent reporting period.
Square, Inc (Square) provides financial services and marketing services. The Company also provides payments and point-of-sale (POS), which include hardware and software to accept payments, streamline operations, and analyze business information. The Company’s payments and POS services include In-Person Payments, Online Payments, Square Cash, Square Register, Square Analytics, Square Appointments and Square App Marketplace.
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