Square, Inc. (SQ) Stock Rating Reaffirmed by Needham & Company LLC
Needham & Company LLC reaffirmed their buy rating on shares of Square, Inc. (NYSE:SQ) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a $30.00 price target on the technology company’s stock, up from their prior price target of $20.00.
SQ has been the topic of a number of other reports. Credit Suisse Group lowered Square from an outperform rating to a neutral rating and boosted their price objective for the company from $20.00 to $25.00 in a research note on Friday, June 16th. Royal Bank Of Canada decreased their price objective on Square to $18.00 and set a buy rating on the stock in a research note on Monday, April 24th. KeyCorp reiterated an overweight rating on shares of Square in a research note on Tuesday, July 18th. Instinet boosted their price objective on Square from $21.00 to $22.00 and gave the company a buy rating in a research note on Thursday, May 4th. Finally, Deutsche Bank AG boosted their price objective on Square from $19.00 to $21.00 and gave the company a buy rating in a research note on Monday, May 15th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Square currently has an average rating of Buy and a consensus target price of $24.61.
Square (SQ) traded up 1.94% during mid-day trading on Thursday, hitting $25.70. The stock had a trading volume of 2,850,726 shares. The company’s 50 day moving average is $24.96 and its 200-day moving average is $19.56. Square has a 52 week low of $10.85 and a 52 week high of $27.97. The stock’s market capitalization is $9.67 billion.
Square (NYSE:SQ) last issued its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $240 million for the quarter, compared to analyst estimates of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The business’s revenue was up 40.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) earnings per share. On average, analysts expect that Square will post $0.19 EPS for the current fiscal year.
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In related news, Director James Morgan Jr. Mckelvey sold 90,000 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $23.36, for a total transaction of $2,102,400.00. Following the completion of the sale, the director now directly owns 186,308 shares in the company, valued at approximately $4,352,154.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $22.09, for a total value of $848,256.00. Following the sale, the chief financial officer now owns 375,023 shares of the company’s stock, valued at $8,284,258.07. The disclosure for this sale can be found here. Insiders sold a total of 914,900 shares of company stock valued at $20,202,610 over the last quarter. Company insiders own 32.68% of the company’s stock.
Large investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its stake in shares of Square by 5.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 19,810 shares of the technology company’s stock valued at $270,000 after buying an additional 1,070 shares in the last quarter. State Street Corp boosted its stake in shares of Square by 4.1% in the fourth quarter. State Street Corp now owns 1,122,838 shares of the technology company’s stock valued at $15,302,000 after buying an additional 44,331 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Square by 4.0% in the fourth quarter. Guggenheim Capital LLC now owns 18,680 shares of the technology company’s stock valued at $255,000 after buying an additional 727 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Square by 59.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 41,008 shares of the technology company’s stock valued at $559,000 after buying an additional 15,354 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Square by 168.8% in the fourth quarter. Teachers Advisors LLC now owns 229,804 shares of the technology company’s stock valued at $3,132,000 after buying an additional 144,308 shares in the last quarter. Institutional investors own 76.25% of the company’s stock.
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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