Keefe, Bruyette & Woods Begins Coverage on Square Inc. (SQ)
A number of other equities analysts also recently issued reports on the company. Vetr upgraded Square from a hold rating to a strong-buy rating and set a $13.87 price objective for the company in a research report on Monday, August 22nd. Goldman Sachs Group Inc. restated a buy rating and set a $15.00 price objective on shares of Square in a research report on Thursday, August 4th. Evercore ISI started coverage on Square in a research report on Tuesday, June 21st. They set a hold rating and a $7.00 price objective for the company. BTIG Research restated a buy rating and set a $12.00 price objective on shares of Square in a research report on Monday, June 20th. Finally, Canaccord Genuity raised their price objective on Square from $13.00 to $14.00 and gave the stock a hold rating in a research report on Thursday, August 4th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $12.74.
Shares of Square (NYSE:SQ) opened at 11.47 on Thursday. The company’s market cap is $3.92 billion. Square has a 1-year low of $8.06 and a 1-year high of $15.91. The firm has a 50-day moving average price of $11.74 and a 200 day moving average price of $11.23.
Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.03. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The company earned $439 million during the quarter, compared to the consensus estimate of $406.93 million. The firm’s revenue for the quarter was up 54.1% compared to the same quarter last year. On average, equities analysts anticipate that Square will post ($0.60) earnings per share for the current year.
In related news, Director Lawrence Henry Summers sold 23,125 shares of Square stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $12.50, for a total transaction of $289,062.50. Following the transaction, the director now owns 50,507 shares of the company’s stock, valued at $631,337.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sarah Friar sold 2,690 shares of Square stock in a transaction that occurred on 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 directly owns 114,402 shares in the company, valued at approximately $1,117,707.54. The disclosure for this sale can be found here. 42.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SQ. Westwood Management Corp IL bought a new position in shares of Square during the second quarter valued at about $362,000. Bollard Group LLC bought a new position in shares of Square during the second quarter valued at about $1,810,000. Creative Planning boosted its position in shares of Square by 76.2% in the second quarter. Creative Planning now owns 14,719 shares of the company’s stock valued at $133,000 after buying an additional 6,365 shares during the last quarter. Westend Capital Management LLC bought a new position in shares of Square during the first quarter valued at about $1,355,000. Finally, A.R.T. Advisors LLC bought a new position in shares of Square during the first quarter valued at about $4,052,000. 16.90% of the stock is currently owned by institutional investors.
Square Company Profile
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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