Stifel Nicolaus Reiterates “Buy” Rating for Square, Inc. (NYSE:SQ)
Stifel Nicolaus reissued their buy rating on shares of Square, Inc. (NYSE:SQ) in a report published on Wednesday morning. Stifel Nicolaus currently has a $29.00 target price on the technology company’s stock, up from their previous target price of $27.00.
Other analysts have also recently issued research reports about the company. Deutsche Bank AG restated a buy rating and issued a $19.00 price target on shares of Square in a research report on Monday, April 24th. Royal Bank Of Canada reduced their price target on Square to $18.00 and set a buy rating for the company in a research report on Monday, April 24th. Vetr cut Square from a strong-buy rating to a buy rating and set a $19.66 price target for the company. in a research report on Thursday, April 20th. Needham & Company LLC restated a buy rating and issued a $23.00 price target (up previously from $20.00) on shares of Square in a research report on Thursday, May 4th. Finally, Instinet upped their price target on Square from $21.00 to $22.00 and gave the stock a buy rating in a research report on Thursday, May 4th. Eleven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $24.61.
Shares of Square (NYSE SQ) traded up 0.69% during mid-day trading on Wednesday, hitting $24.82. The stock had a trading volume of 5,266,455 shares. Square has a 12 month low of $10.88 and a 12 month high of $27.97. The stock’s 50-day moving average is $25.32 and its 200 day moving average is $20.07. The company’s market cap is $9.52 billion.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $240 million during the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The business’s quarterly revenue was up 40.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) earnings per share. On average, equities research analysts forecast that Square will post $0.24 earnings per share for the current fiscal year.
In other Square news, Director James Morgan Jr. Mckelvey sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $23.36, for a total transaction 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 SEC, which is available at the SEC website. Also, CFO Sarah Friar sold 19,200 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $26.25, for a total value of $504,000.00. Following the sale, the chief financial officer now owns 368,791 shares in the company, valued at $9,680,763.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 914,900 shares of company stock worth $20,202,610. Company insiders own 32.68% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Almanack Investment Partners LLC. bought a new stake in shares of Square during the second quarter worth about $117,000. Pacer Advisors Inc. increased its stake in shares of Square by 22.7% in the first quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock worth $102,000 after buying an additional 1,090 shares during the period. Riverhead Capital Management LLC bought a new stake in shares of Square during the second quarter worth about $149,000. Glassman Wealth Services increased its stake in shares of Square by 1,987.3% in the first quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock worth $114,000 after buying an additional 6,260 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Square by 19.4% in the second 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 period. Institutional investors and hedge funds own 76.25% 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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