Vetr upgraded shares of Square, Inc. (NYSE:SQ) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday, May 11th. Vetr currently has $22.17 price target on the technology company’s stock.
SQ has been the topic of several other research reports. Mizuho reissued a buy rating on shares of Square in a report on Monday, March 20th. Instinet boosted their price target on shares of Square from $18.00 to $21.00 and gave the stock a buy rating in a research report on Monday, March 6th. Morgan Stanley boosted their price objective on shares of Square from $12.00 to $14.00 and gave the company an equal weight rating in a research report on Thursday, February 23rd. Citigroup Inc. assumed coverage on shares of Square in a research report on Friday, February 17th. They set a buy rating and a $20.00 price objective on the stock. Finally, Canaccord Genuity reiterated a hold rating and set a $16.00 price objective (up previously from $14.00) on shares of Square in a research report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nineteen have assigned a buy rating to the stock. Square currently has an average rating of Buy and an average price target of $19.52.
Square (SQ) opened at 23.56 on Thursday. The company’s market capitalization is $8.81 billion. The stock’s 50 day moving average is $21.47 and its 200 day moving average is $17.02. Square has a one year low of $8.42 and a one year high of $24.97.
Square (NYSE:SQ) last released its earnings results on Wednesday, May 3rd. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. Square had a negative net margin of 5.02% and a negative return on equity of 15.81%. The firm had revenue of $461.55 million for the quarter, compared to the consensus estimate of $450.66 million. On average, analysts anticipate that Square will post ($0.19) earnings per share for the current fiscal year.
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In other news, Director James Morgan Jr. Mckelvey sold 90,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $23.36, for a total value of $2,102,400.00. Following the sale, the director now directly owns 186,308 shares in the company, valued at $4,352,154.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $17.25, for a total value of $662,400.00. Following the completion of the sale, the chief financial officer now owns 110,585 shares in the company, valued at $1,907,591.25. The disclosure for this sale can be found here. In the last three months, insiders sold 2,620,738 shares of company stock worth $48,964,916. Corporate insiders own 42.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Square by 72.1% in the first quarter. Bank of New York Mellon Corp now owns 14,480,815 shares of the technology company’s stock valued at $250,229,000 after buying an additional 6,065,730 shares during the period. FMR LLC raised its stake in shares of Square by 24.4% in the first quarter. FMR LLC now owns 11,124,126 shares of the technology company’s stock valued at $192,225,000 after buying an additional 2,183,127 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Square by 2.3% in the first quarter. Vanguard Group Inc. now owns 10,975,970 shares of the technology company’s stock valued at $189,665,000 after buying an additional 241,563 shares in the last quarter. Capital World Investors raised its stake in shares of Square by 131.4% in the third quarter. Capital World Investors now owns 10,813,575 shares of the technology company’s stock valued at $126,086,000 after buying an additional 6,140,745 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Square by 641.8% in the first quarter. Renaissance Technologies LLC now owns 8,578,500 shares of the technology company’s stock valued at $148,236,000 after buying an additional 7,422,000 shares in the last quarter. Hedge funds and other institutional investors own 76.95% of the company’s stock.
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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