Square, Inc. (SQ) Price Target Raised to $37.00
Square, Inc. (NYSE:SQ) had its price objective upped by equities research analysts at Deutsche Bank AG to $37.00 in a research note issued on Tuesday. The firm presently has a “buy” rating on the technology company’s stock. Deutsche Bank AG’s target price points to a potential upside of 3.50% from the company’s current price.
A number of other equities analysts have also commented on SQ. Vetr upgraded shares of Square from a “buy” rating to a “strong-buy” rating and set a $26.28 price target on the stock in a report on Tuesday, July 4th. Citigroup Inc. lifted their price target on shares of Square from $23.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and issued a $28.00 target price on shares of Square in a report on Thursday, July 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $19.50 target price on shares of Square in a report on Thursday, July 6th. Finally, KeyCorp restated an “overweight” rating on shares of Square in a report on Tuesday, July 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $27.91.
Square (SQ) traded up 1.73% on Tuesday, hitting $36.37. The stock had a trading volume of 2,614,553 shares. The firm’s market capitalization is $13.96 billion. Square has a 1-year low of $11.00 and a 1-year high of $36.70. The company’s 50 day moving average is $30.56 and its 200-day moving average is $25.19.
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 company had revenue of $240.00 million for the quarter, compared to analyst estimates of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. Square’s revenue was up 40.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. On average, analysts forecast that Square will post $0.24 EPS for the current year.
In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total transaction of $13,088,000.00. Following the completion of the sale, the director now directly owns 507,732 shares of the company’s stock, valued at $16,612,991.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $25.58, for a total transaction of $982,272.00. Following the sale, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at $9,364,914.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,353,600 shares of company stock valued at $38,351,040. 32.68% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Makena Capital Management LLC bought a new stake in shares of Square during the second quarter worth about $4,561,000. California Public Employees Retirement System increased its position in shares of Square by 10.3% during the second quarter. California Public Employees Retirement System now owns 353,700 shares of the technology company’s stock worth $8,298,000 after acquiring an additional 33,100 shares in the last quarter. Royce & Associates LP increased its position in shares of Square by 55.6% during the second quarter. Royce & Associates LP now owns 235,000 shares of the technology company’s stock worth $5,513,000 after acquiring an additional 84,000 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Square by 2.9% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,190,200 shares of the technology company’s stock worth $74,842,000 after acquiring an additional 90,200 shares in the last quarter. Finally, Allen Operations LLC increased its position in shares of Square by 7.2% during the second quarter. Allen Operations LLC now owns 210,825 shares of the technology company’s stock worth $4,946,000 after acquiring an additional 14,228 shares in the last quarter. 54.04% of the stock is owned by institutional investors.
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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