Square Inc. (SQ) Trading 5.8% Higher
Square Inc. (NYSE:SQ)’s share price traded up 5.8% during mid-day trading on Tuesday . The stock traded as high as $12.54 and last traded at $12.50, with a volume of 13,599,374 shares trading hands. The stock had previously closed at $11.82.
Several equities analysts have issued reports on the company. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $16.40 price objective for the company. in a research report on Wednesday, April 27th. Wedbush downgraded Square from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $11.00 to $9.00 in a research report on Friday, May 6th. Stifel Nicolaus upgraded Square from a “hold” rating to a “buy” rating and boosted their target price for the stock from $8.06 to $15.00 in a research report on Monday. Goldman Sachs Group Inc. restated a “buy” rating and set a $15.00 target price on shares of Square in a research report on Thursday, August 4th. Finally, RBC Capital Markets restated a “buy” rating on shares of Square in a research report on Friday, August 5th. Fourteen 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 stock. The stock has an average rating of “Buy” and an average price target of $12.83.
The stock’s market capitalization is $4.16 billion. The firm has a 50-day moving average of $10.44 and a 200-day moving average of $11.05.
Square (NYSE:SQ) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ 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 business’s revenue was up 54.1% on a year-over-year basis. Equities analysts anticipate that Square Inc. will post ($0.60) EPS for the current fiscal year.
In other Square news, insider Dana Wagner sold 6,953 shares of Square 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 transaction, the insider now owns 271,315 shares in the company, valued at approximately $2,650,747.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Friar sold 2,690 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 value of $26,281.30. Following the transaction, 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 position in shares of Square Inc. (NYSE:SQ) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,440,945 shares of the company’s stock, valued at approximately $18,862,000. BlackRock Advisors LLC owned approximately 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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