Square Inc. (SQ) Stock Price Up 1.7%
Shares of Square Inc. (NYSE:SQ) rose 1.7% during trading on Tuesday . The company traded as high as $11.69 and last traded at $11.67, with a volume of 1,662,325 shares traded. The stock had previously closed at $11.48.
SQ has been the subject of a number of recent research reports. Wedbush dropped their price objective on Square from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 4th. Piper Jaffray Cos. began coverage on Square in a report on Thursday, May 19th. They issued a “neutral” rating and a $10.00 price target for the company. Vetr cut Square from a “buy” rating to a “hold” rating and set a $9.34 price target for the company. in a report on Monday, July 18th. Mizuho restated a “buy” rating and issued a $16.00 price target on shares of Square in a report on Thursday, August 4th. Finally, BTIG Research restated a “buy” rating and issued a $12.00 price target on shares of Square in a report on Monday, June 20th. Sixteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $12.63.
The firm’s 50 day moving average price is $10.07 and its 200 day moving average price is $10.93. The stock’s market capitalization is $3.90 billion.
Square (NYSE:SQ) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. The firm earned $439 million during the quarter, compared to analyst estimates of $406.93 million. The firm’s quarterly revenue was up 54.1% on a year-over-year basis. Analysts predict that Square Inc. will post ($0.60) earnings per share for the current fiscal year.
In other news, insider Dana Wagner sold 6,953 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total transaction of $67,930.81. Following the completion of the sale, the insider now owns 271,315 shares in the company, valued at approximately $2,650,747.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Sarah Friar sold 2,690 shares of the company’s 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 sale, the chief financial officer now owns 114,402 shares of the company’s stock, valued at approximately $1,117,707.54. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Square stock. BlackRock Advisors LLC purchased a new stake in Square Inc. (NYSE:SQ) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,440,945 shares of the company’s stock, valued at approximately $18,862,000. BlackRock Advisors LLC owned about 0.92% of Square at the end of the most recent quarter.
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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