Square, Inc. (SQ) Stock Rating Lowered by Vetr Inc.
Square, Inc. (NYSE:SQ) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday. They currently have a $30.12 target price on the technology company’s stock. Vetr‘s target price would suggest a potential upside of 9.57% from the company’s current price.
Other equities analysts have also issued research reports about the company. Credit Suisse Group upped their price target on Square from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $24.00 price target on shares of Square in a research note on Wednesday, May 17th. Barclays PLC reaffirmed an “overweight” rating and issued a $28.00 price target (up previously from $21.00) on shares of Square in a research note on Thursday, August 3rd. BTIG Research reaffirmed a “neutral” rating and issued a $20.00 price target (down previously from $21.00) on shares of Square in a research note on Monday, May 15th. Finally, Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, June 6th. Twelve research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Square has an average rating of “Buy” and an average price target of $24.87.
Shares of Square (SQ) opened at 27.49 on Tuesday. The firm has a 50-day moving average price of $25.73 and a 200-day moving average price of $21.80. Square has a 1-year low of $10.88 and a 1-year high of $27.97. The stock’s market cap is $10.55 billion.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The business had revenue of $240.00 million for the quarter, compared to analyst estimates of $228.64 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 40.4% on a year-over-year basis. Equities analysts forecast that Square will post $0.24 EPS for the current year.
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In other Square news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $26.39, for a total transaction of $1,013,376.00. Following the completion of the sale, the chief financial officer now directly owns 368,791 shares of the company’s stock, valued at approximately $9,732,394.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total value of $10,008,000.00. Following the sale, the director now directly owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The disclosure for this sale can be found here. Insiders have sold a total of 953,600 shares of company stock valued at $24,816,064 over the last ninety days. 32.68% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of SQ. Pacer Advisors Inc. lifted its holdings in shares of Square by 22.7% in the 1st quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after buying an additional 1,090 shares during the period. Glassman Wealth Services lifted its holdings in shares of Square by 1,987.3% in the 1st quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock valued at $114,000 after buying an additional 6,260 shares during the period. Almanack Investment Partners LLC. acquired a new stake in shares of Square in the 2nd quarter valued at approximately $117,000. Concert Wealth Management Inc. acquired a new stake in shares of Square in the 1st quarter valued at approximately $144,000. Finally, Riverhead Capital Management LLC acquired a new stake in shares of Square in the 2nd quarter valued at approximately $149,000. 82.02% of the stock is owned by institutional investors.
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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