Cantor Fitzgerald assumed coverage on shares of Square, Inc. (NYSE:SQ) in a research note released on Tuesday, MarketBeat Ratings reports. The firm issued an overweight rating and a $31.00 price target on the technology company’s stock.

A number of other analysts have also recently commented on SQ. BTIG Research reiterated a neutral rating and set a $20.00 price objective (down previously from $21.00) on shares of Square in a research report on Monday, May 15th. Deutsche Bank AG upped their price objective on Square from $19.00 to $21.00 and gave the company a buy rating in a research report on Monday, May 15th. Stephens upped their price objective on Square from $20.00 to $22.00 and gave the company an overweight rating in a research report on Monday, May 15th. Royal Bank Of Canada restated a buy rating and issued a $24.00 price target on shares of Square in a research report on Wednesday, May 17th. Finally, Stifel Nicolaus restated a buy rating and issued a $23.00 price target (up previously from $21.00) on shares of Square in a research report on Wednesday, May 17th. Twelve analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Square presently has a consensus rating of Buy and a consensus price target of $24.87.

Square (SQ) opened at 28.50 on Tuesday. Square has a 1-year low of $10.88 and a 1-year high of $28.80. The stock’s 50 day moving average price is $25.86 and its 200 day moving average price is $21.97. The company’s market cap is $10.94 billion.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. Square’s revenue for the quarter was up 40.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. On average, equities analysts anticipate that Square will post $0.24 earnings per share for the current fiscal year.

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In related news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $24.22, for a total transaction of $930,048.00. Following the completion of the transaction, the chief financial officer now directly owns 375,023 shares of the company’s stock, valued at $9,083,057.06. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $27.22, for a total value of $10,888,000.00. Following the transaction, the director now directly owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 953,600 shares of company stock valued at $24,816,064. 32.68% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake 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 purchasing an additional 1,090 shares during the last quarter. Glassman Wealth Services lifted its stake 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 purchasing an additional 6,260 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Square in the 2nd quarter valued at approximately $117,000. Concert Wealth Management Inc. bought a new stake in shares of Square in the 1st quarter valued at approximately $144,000. Finally, Riverhead Capital Management LLC bought 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 and hedge funds.

About Square

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.

Analyst Recommendations for Square (NYSE:SQ)

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