Square Inc. (SQ) Shares Up 1.7%
Square Inc. (NYSE:SQ)’s share price shot up 1.7% on Tuesday . The stock traded as high as $11.69 and last traded at $11.67, with a volume of 1,662,325 shares changing hands. The stock had previously closed at $11.48.
Several research firms have weighed in on SQ. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $16.40 target price for the company. in a research report on Wednesday, April 27th. Wedbush downgraded Square from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $11.00 to $9.00 in a research report on Friday, May 6th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $15.00 price objective on shares of Square in a research report on Thursday, August 4th. RBC Capital Markets reissued a “buy” rating on shares of Square in a research report on Friday, August 5th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and set a $11.50 price objective (up from $10.00) on shares of Square in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the company. Square has an average rating of “Hold” and a consensus price target of $12.60.
The company’s market capitalization is $3.98 billion. The company has a 50 day moving average of $9.91 and a 200-day moving average of $10.91.
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. The business had revenue of $439 million for the quarter, compared to analyst estimates of $406.93 million. The business’s revenue was up 54.1% on a year-over-year basis. On average, equities analysts forecast that Square Inc. will post ($0.60) EPS for the current fiscal year.
In other news, CFO Sarah Friar sold 2,690 shares of Square stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total value of $26,281.30. Following the completion of the transaction, the chief financial officer now owns 114,402 shares in the company, valued at approximately $1,117,707.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dana Wagner sold 200,000 shares of Square stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $9.43, for a total value of $1,886,000.00. Following the completion of the transaction, the insider now owns 353,268 shares of the company’s stock, valued at approximately $3,331,317.24. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Square stock. BlackRock Advisors LLC bought 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 firm bought 1,440,945 shares of the company’s stock, valued at approximately $18,862,000. BlackRock Advisors LLC owned 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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