Square, Inc. (SQ) Upgraded to “Outperform” at Evercore ISI
Evercore ISI upgraded shares of Square, Inc. (NYSE:SQ) from an in-line rating to an outperform rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. Evercore ISI currently has $51.00 price objective on the technology company’s stock.
SQ has been the subject of several other research reports. Citigroup Inc. raised their price target on shares of Square from $30.00 to $38.00 and gave the company a buy rating in a research report on Wednesday, October 18th. Vetr downgraded shares of Square from a strong-buy rating to a buy rating and set a $30.12 price target for the company. in a research report on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) raised shares of Square to a buy rating in a research report on Thursday, November 16th. Zacks Investment Research raised shares of Square from a hold rating to a buy rating and set a $30.00 price target for the company in a research report on Tuesday, August 1st. Finally, Oppenheimer Holdings, Inc. started coverage on shares of Square in a research report on Thursday, October 12th. They set an outperform rating and a $35.00 price target for the company. Fourteen analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $33.18.
Shares of Square (NYSE SQ) opened at $45.21 on Friday. 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 has a 1 year low of $12.08 and a 1 year high of $46.06.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The company had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The firm’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share. analysts forecast that Square will post -0.16 earnings per share for the current fiscal year.
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In related news, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total transaction of $490,368.00. Following the transaction, the chief financial officer now owns 366,103 shares in the company, valued at approximately $9,350,270.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Hillary B. Smith sold 3,459 shares of Square stock in a transaction on Friday, November 10th. The shares were sold at an average price of $38.95, for a total transaction of $134,728.05. Following the transaction, the insider now owns 641,154 shares in the company, valued at approximately $24,972,948.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,394,791 shares of company stock worth $45,611,401 in the last quarter. Corporate insiders own 32.68% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SQ. FMR LLC lifted its stake in shares of Square by 114.7% during the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after buying an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Square by 73.4% during the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after buying an additional 8,058,892 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Square by 7,162.2% during the 1st quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock valued at $93,023,000 after buying an additional 5,309,197 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Square by 556.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock valued at $107,786,000 after buying an additional 3,894,639 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of Square by 32.8% during the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after buying an additional 3,853,000 shares in the last quarter. Institutional investors own 53.64% 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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