Square, Inc. (SQ) Rating Lowered to Hold at Vetr Inc.
Square, Inc. (NYSE:SQ) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They currently have a $45.60 target price on the technology company’s stock. Vetr‘s target price points to a potential downside of 5.12% from the company’s current price.
SQ has been the subject of several other reports. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, August 1st. Credit Suisse Group lifted their target price on shares of Square from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. Cantor Fitzgerald lifted their target price on shares of Square to $41.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. Piper Jaffray Companies reiterated a “hold” rating and set a $24.00 target price on shares of Square in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 target price on shares of Square in a research report on Sunday, October 8th. Fifteen research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Square has an average rating of “Buy” and an average target price of $33.44.
Shares of Square (NYSE SQ) opened at $48.06 on Monday. Square has a 1 year low of $12.25 and a 1 year high of $48.24. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.
Square (NYSE:SQ) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The business had revenue of $257.12 million during the quarter, compared to analyst estimates of $244.95 million. During the same period in the previous year, the business posted $0.01 earnings per share. Square’s revenue for the quarter was up 44.6% on a year-over-year basis. research analysts expect that Square will post -0.16 earnings per share for the current fiscal year.
In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $39.15, for a total transaction of $15,660,000.00. Following the transaction, the director now directly owns 507,732 shares of the company’s stock, valued at approximately $19,877,707.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 17,446 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $38.98, for a total transaction of $680,045.08. Following the completion of the sale, the chief accounting officer now directly owns 134,518 shares in the company, valued at $5,243,511.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,375,591 shares of company stock worth $45,121,033. Insiders own 32.68% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SQ. Teachers Advisors LLC grew its position in shares of Square by 11.6% in the 1st quarter. Teachers Advisors LLC now owns 256,516 shares of the technology company’s stock worth $4,433,000 after buying an additional 26,712 shares during the period. Legal & General Group Plc grew its position in shares of Square by 2,210.9% in the 1st quarter. Legal & General Group Plc now owns 28,540 shares of the technology company’s stock worth $493,000 after buying an additional 27,305 shares during the period. Geode Capital Management LLC grew its position in shares of Square by 12.9% in the 1st quarter. Geode Capital Management LLC now owns 230,557 shares of the technology company’s stock worth $3,984,000 after buying an additional 26,262 shares during the period. BlackRock Inc. grew its position in shares of Square by 7,162.2% in the 1st quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock worth $93,023,000 after buying an additional 5,309,197 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Square by 101.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 45,653 shares of the technology company’s stock worth $789,000 after buying an additional 23,021 shares during the period. 53.64% of the stock is currently owned by hedge funds and other institutional investors.
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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