Square Inc (SQ) PT Raised to $45.00

Square Inc (NYSE:SQ) had its target price hoisted by Nomura from $33.00 to $45.00 in a report released on Tuesday morning. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on SQ. Credit Suisse Group upped their price objective on shares of Square from $25.00 to $26.00 and gave the stock a neutral rating in a research report on Thursday, August 3rd. Barclays PLC reaffirmed an overweight rating and set a $28.00 price objective (up previously from $21.00) on shares of Square in a research report on Thursday, August 3rd. Craig Hallum reaffirmed a hold rating and set a $23.00 price objective (up previously from $18.00) on shares of Square in a research report on Thursday, August 3rd. KeyCorp reaffirmed an overweight rating on shares of Square in a research report on Tuesday, July 18th. Finally, Wedbush started coverage on shares of Square in a research report on Thursday, August 3rd. They set a neutral rating and a $28.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $28.14.

Shares of Square (NYSE SQ) opened at $36.89 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.30 and a current ratio of 2.30. Square has a 52-week low of $11.43 and a 52-week high of $37.52.

Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. Square’s quarterly revenue was up 40.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) earnings per share. equities analysts forecast that Square will post -0.16 EPS 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 dated Wednesday, August 23rd. The stock was sold at an average price of $25.54, for a total value of $490,368.00. Following the completion of the sale, the chief financial officer now owns 366,103 shares of the company’s stock, valued at approximately $9,350,270.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the completion of the sale, the director now directly owns 507,385 shares of the company’s stock, valued at approximately $13,811,019.70. The disclosure for this sale can be found here. In the last three months, insiders sold 1,353,600 shares of company stock valued at $38,351,040. 32.68% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. boosted its stake in Square by 0.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock worth $175,000 after purchasing an additional 30 shares during the period. Raymond James Trust N.A. boosted its stake in Square by 1.3% in the 2nd quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock worth $357,000 after purchasing an additional 193 shares during the period. Neuberger Berman Group LLC boosted its stake in Square by 2.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock worth $240,000 after purchasing an additional 212 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Square by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock worth $1,084,000 after purchasing an additional 513 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Square by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,706 shares of the technology company’s stock worth $274,000 after purchasing an additional 921 shares during the period. Institutional investors and hedge funds own 54.04% of the company’s stock.

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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