Vetr upgraded shares of Square Inc (NYSE:SQ) from a buy rating to a strong-buy rating in a report published on Thursday, May 11th. They currently have $22.17 target price on the technology company’s stock.
A number of other analysts also recently issued reports on the stock. Deutsche Bank AG increased their target price on shares of Square from $19.00 to $21.00 and gave the stock a buy rating in a research report on Friday, May 5th. Stephens increased their price objective on shares of Square from $20.00 to $22.00 and gave the company an overweight rating in a research report on Friday, May 5th. BTIG Research reaffirmed a buy rating and issued a $20.00 price objective on shares of Square in a research report on Friday, May 5th. Canaccord Genuity increased their price objective on shares of Square from $16.00 to $18.00 and gave the company a hold rating in a research report on Thursday, May 4th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $23.00 price objective (up previously from $20.00) on shares of Square in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty have assigned a buy rating to the company. Square presently has a consensus rating of Buy and a consensus target price of $18.57.
Square (NYSE SQ) opened at 23.39 on Thursday. The company’s 50 day moving average is $19.89 and its 200-day moving average is $16.37. The stock’s market capitalization is $8.75 billion. Square has a 1-year low of $8.42 and a 1-year high of $23.73.
Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, May 3rd. The technology company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.05. Square had a negative net margin of 3.27% and a negative return on equity of 10.05%. The company had revenue of $461.55 million during the quarter, compared to the consensus estimate of $450.66 million. Analysts forecast that Square will post ($0.19) earnings per share for the current fiscal year.
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In other Square news, Director James Morgan Jr. Mckelvey sold 90,000 shares of Square stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $17.25, for a total value of $1,552,500.00. Following the transaction, the director now directly owns 185,730 shares of the company’s stock, valued at approximately $3,203,842.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jack Dorsey sold 381,500 shares of Square stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $16.80, for a total value of $6,409,200.00. The disclosure for this sale can be found here. Insiders sold a total of 2,530,738 shares of company stock worth $46,862,516 over the last three months. 42.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Aviance Capital Management LLC acquired a new position in shares of Square during the first quarter valued at approximately $291,000. Goldman Sachs Group Inc. raised its stake in shares of Square by 531.5% in the first quarter. Goldman Sachs Group Inc. now owns 699,806 shares of the technology company’s stock valued at $12,093,000 after buying an additional 588,997 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of Square during the first quarter valued at $2,696,000. FNY Partners Fund LP raised its stake in shares of Square by 55.4% in the first quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock valued at $174,000 after buying an additional 3,600 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Square during the first quarter valued at $1,127,000. 24.28% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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