Square, Inc. (SQ) Trading 5.4% Higher on Analyst Upgrade
Square, Inc. (NYSE:SQ) traded up 5.4% on Friday after Evercore ISI upgraded the stock from an in-line rating to an outperform rating. The company traded as high as $45.74 and last traded at $44.18. 39,179,619 shares were traded during trading, an increase of 418% from the average session volume of 7,564,633 shares. The stock had previously closed at $41.90.
SQ has been the subject of a number of other reports. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, August 1st. Vetr cut Square from a “strong-buy” rating to a “buy” rating and set a $30.12 price target for the company. in a report on Tuesday, September 12th. Credit Suisse Group raised their price target on Square from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, August 3rd. Cantor Fitzgerald raised their price target on Square to $41.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $24.00 target price on shares of Square in a research note on Wednesday, July 26th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Square currently has a consensus rating of “Buy” and an average price target of $32.37.
In other news, CAO Ajmere Dale sold 17,446 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $38.98, for a total value of $680,045.08. Following the sale, the chief accounting officer now directly owns 134,518 shares in the company, valued at $5,243,511.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $39.15, for a total value of $15,660,000.00. Following the completion of the sale, the director now owns 507,732 shares in the company, valued at $19,877,707.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,394,791 shares of company stock worth $45,611,401. Corporate insiders own 32.68% of the company’s stock.
Several institutional investors have recently modified their holdings of SQ. FMR LLC lifted its holdings in shares of Square by 114.7% in the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after purchasing an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Square by 73.4% in the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after purchasing an additional 8,058,892 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Square by 7,162.2% in the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock valued at $93,023,000 after purchasing an additional 5,309,197 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Square by 556.5% in the second quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock valued at $107,786,000 after purchasing an additional 3,894,639 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of Square by 32.8% in the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after purchasing an additional 3,853,000 shares in the last quarter. Institutional investors own 53.24% of the company’s stock.
The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.48.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The company’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 earnings per share. equities analysts anticipate that Square, Inc. will post -0.16 earnings per share for the current fiscal year.
Square Company Profile
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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