Square, Inc. (NYSE:SQ) Given Average Rating of “Buy” by Analysts

Shares of Square, Inc. (NYSE:SQ) have been assigned an average rating of “Buy” from the thirty-two ratings firms that are covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $24.39.

SQ has been the topic of a number of recent analyst reports. Vetr raised Square from a “buy” rating to a “strong-buy” rating and set a $26.28 target price on the stock in a research report on Monday, July 10th. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, August 1st. Citigroup Inc. upped their target price on Square from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 6th. Deutsche Bank AG upped their target price on Square from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $24.00 target price on shares of Square in a research report on Wednesday, July 26th.

Square (NYSE:SQ) opened at 24.65 on Tuesday. The firm has a 50-day moving average of $25.30 and a 200 day moving average of $20.00. The stock’s market capitalization is $9.46 billion. Square has a 52 week low of $10.88 and a 52 week high of $27.97.

Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The firm had revenue of $240 million for the quarter, compared to analyst estimates of $228.64 million. During the same period in the previous year, the company posted ($0.08) EPS. Square’s revenue for the quarter was up 40.4% on a year-over-year basis. On average, analysts anticipate that Square will post $0.24 EPS for the current year.

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In other news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $26.39, for a total value of $1,013,376.00. Following the completion of the transaction, the chief financial officer now owns 368,791 shares of the company’s stock, valued at $9,732,394.49. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jack Dorsey sold 309,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $22.70, for a total value of $7,014,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 914,900 shares of company stock valued at $20,202,610. Company insiders own 32.68% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SQ. Russell Investments Group Ltd. acquired a new position in Square during the fourth quarter valued at about $910,000. State Board of Administration of Florida Retirement System boosted its position in Square by 5.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 19,810 shares of the technology company’s stock valued at $270,000 after buying an additional 1,070 shares during the last quarter. State Street Corp boosted its position in Square by 4.1% in the fourth quarter. State Street Corp now owns 1,122,838 shares of the technology company’s stock valued at $15,302,000 after buying an additional 44,331 shares during the last quarter. Guggenheim Capital LLC boosted its position in Square by 4.0% in the fourth quarter. Guggenheim Capital LLC now owns 18,680 shares of the technology company’s stock valued at $255,000 after buying an additional 727 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Square by 59.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 41,008 shares of the technology company’s stock valued at $559,000 after buying an additional 15,354 shares during the last quarter. 76.25% of the stock is owned by institutional investors.

About Square

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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