Square, Inc. (SQ) PT Raised to $37.00

Square, Inc. (NYSE:SQ) had its price objective lifted by equities researchers at Deutsche Bank AG to $37.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the technology company’s stock. Deutsche Bank AG’s price objective suggests a potential downside of 0.51% from the stock’s current price.

Several other equities analysts have also commented on the company. Nomura upped their price target on Square from $33.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday. Vetr raised Square from a “buy” rating to a “strong-buy” rating and set a $39.78 price target on the stock in a research note on Wednesday, October 25th. Citigroup Inc. upped their price target on Square from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, October 16th. Finally, CIBC began coverage on Square in a research note on Thursday, October 12th. They issued an “outperform” rating and a $35.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $28.14.

Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $240.00 million for the quarter, compared to analyst estimates of $228.64 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 40.4% on a year-over-year basis.

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In other news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $32.81, for a total value of $1,259,904.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total value of $10,008,000.00. Following the completion of the transaction, the director now owns 507,385 shares in the company, valued at approximately $12,694,772.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,353,600 shares of company stock worth $38,351,040. Company insiders own 32.68% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. purchased a new position in shares of Square in the 2nd quarter valued at about $117,000. Riverhead Capital Management LLC purchased a new position in Square during the 2nd quarter worth approximately $149,000. Hudock Capital Group LLC purchased a new position in Square during the 3rd quarter worth approximately $157,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Square by 19.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after buying an additional 1,099 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Square by 0.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock worth $175,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 54.04% 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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