Square Inc. (SQ) Downgraded by Vetr Inc.
Square Inc. (NYSE:SQ) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They currently have a $11.46 price target on the stock. Vetr‘s target price would suggest a potential downside of 0.09% from the stock’s current price.
Several other research firms have also commented on SQ. BTIG Research lowered shares of Square from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $15.91 to $12.00 in a research note on Monday, August 29th. Stifel Nicolaus upgraded shares of Square from a “hold” rating to a “buy” rating and lifted their price target for the stock from $8.06 to $15.00 in a research note on Monday, August 22nd. Jefferies Group reiterated a “buy” rating and issued a $15.00 price target on shares of Square in a research note on Wednesday, September 28th. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods started coverage on shares of Square in a research note on Thursday. They issued a “mkt perform” rating for the company. Sixteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.74.
Square (NYSE:SQ) traded down 0.09% on Monday, hitting $11.47. 1,581,273 shares of the company traded hands. Square has a 12 month low of $8.06 and a 12 month high of $15.91. The firm’s market capitalization is $3.92 billion. The stock’s 50-day moving average is $11.74 and its 200 day moving average is $11.23.
Square (NYSE:SQ) last posted its quarterly earnings data 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. Square had a negative net margin of 14.85% and a negative return on equity of 37.14%. The business earned $439 million during the quarter, compared to analyst estimates of $406.93 million. The company’s revenue was up 54.1% on a year-over-year basis. Equities analysts forecast that Square will post ($0.60) EPS for the current fiscal year.
In other news, CFO Sarah Friar sold 2,690 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $9.77, for a total transaction of $26,281.30. Following the transaction, the chief financial officer now directly owns 114,402 shares of the company’s stock, valued at approximately $1,117,707.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dana Wagner sold 6,953 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total transaction of $67,930.81. Following the transaction, the insider now directly owns 271,315 shares in the company, valued at $2,650,747.55. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of SQ. BlackRock Inc. boosted its position 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 period. Creative Planning boosted its position 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 period. Edmond DE Rothschild Holding S.A. bought a new position in Square during the first quarter worth $206,000. American Century Companies Inc. bought a new position in Square during the second quarter worth $183,000. Finally, Geode Capital Management LLC boosted its position 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 period. 16.90% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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