Square Inc. (SQ) Upgraded at Vetr Inc.
Vetr upgraded shares of Square Inc. (NYSE:SQ) from a hold rating to a buy rating in a report released on Thursday. The firm currently has $11.70 target price on the stock.
Other research analysts have also issued research reports about the company. Evercore ISI began 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. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $13.00 target price on shares of Square in a research note on Friday, October 7th. Mizuho reaffirmed a top pick rating and set a $16.00 target price on shares of Square in a research note on Wednesday, September 14th. BTIG Research reaffirmed a buy rating and set a $12.00 target price on shares of Square in a research note on Thursday, August 4th. Finally, Royal Bank Of Canada reaffirmed a buy rating on shares of Square in a research note on Friday, June 17th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Square presently has a consensus rating of Buy and an average target price of $12.75.
Square (NYSE:SQ) opened at 10.93 on Thursday. The stock’s market cap is $3.74 billion. The firm has a 50-day moving average price of $11.60 and a 200 day moving average price of $11.14. Square has a 52-week low of $8.06 and a 52-week high of $15.91.
Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm earned $439 million during the quarter, compared to analyst estimates of $406.93 million. The business’s revenue for the quarter was up 54.1% on a year-over-year basis. Equities analysts anticipate that Square will post ($0.60) earnings per share for the current year.
In related news, insider Francoise Brougher sold 57,692 shares of Square stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $12.00, for a total transaction of $692,304.00. Following the completion of the transaction, the insider now owns 164,977 shares in the company, valued at $1,979,724. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Henry Summers sold 23,125 shares of Square stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $12.50, for a total value of $289,062.50. Following the transaction, the director now owns 50,507 shares of the company’s stock, valued at approximately $631,337.50. The disclosure for this sale can be found here. Company insiders own 42.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new position in Square during the second quarter worth approximately $107,000. Ancora Inverness LLC bought a new stake in shares of Square during the second quarter valued at about $109,000. Emerald Acquisition Ltd. bought a new stake in shares of Square during the second quarter valued at about $115,000. Passport Capital LLC bought a new stake in shares of Square during the second quarter valued at about $116,000. Finally, HighTower Advisors LLC bought a new stake in shares of Square during the second quarter valued at about $121,000. Institutional investors and hedge funds own 16.89% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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