Square, Inc. (SQ) Earns “Buy” Rating from Tigress Financial
Square, Inc. (NYSE:SQ)‘s stock had its “buy” rating reiterated by Tigress Financial in a research report issued to clients and investors on Monday.
Other equities analysts also recently issued research reports about the company. Jefferies Group LLC reiterated a “buy” rating and set a $28.00 price target on shares of Square in a report on Thursday, July 6th. Citigroup Inc. increased their price target on Square from $23.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 6th. Mizuho started coverage on Square in a report on Wednesday, June 28th. They set a “buy” rating and a $28.00 price target on the stock. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Tuesday, June 6th. Finally, Vetr upgraded Square from a “hold” rating to a “buy” rating and set a $23.97 price target on the stock in a report on Wednesday, May 31st. Eleven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $24.95.
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 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 company had revenue of $240.00 million for the quarter, compared to the consensus estimate of $228.64 million. During the same quarter last year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was up 40.4% compared to the same quarter last year.
In related news, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $26.39, for a total value of $1,013,376.00. Following the completion of the sale, the chief financial officer now directly owns 368,791 shares in the company, valued at $9,732,394.49. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the completion of the sale, the director now 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 90 days, insiders sold 972,800 shares of company stock valued at $25,520,512. 32.68% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Makena Capital Management LLC acquired a new stake in Square in the second quarter worth about $4,561,000. Royce & Associates LP increased its position in Square by 55.6% in the second quarter. Royce & Associates LP now owns 235,000 shares of the technology company’s stock worth $5,513,000 after purchasing an additional 84,000 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its position in Square by 2.9% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,190,200 shares of the technology company’s stock worth $74,842,000 after purchasing an additional 90,200 shares during the period. National Asset Management Inc. acquired a new stake in Square in the first quarter worth about $177,000. Finally, Allen Operations LLC increased its position in Square by 7.2% in the second quarter. Allen Operations LLC now owns 210,825 shares of the technology company’s stock worth $4,946,000 after purchasing an additional 14,228 shares during the period. Hedge funds and other institutional investors own 53.83% 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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