Evercore ISI Upgrades Square, Inc. (SQ) to Outperform

Square, Inc. (NYSE:SQ) was upgraded by stock analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued to clients and investors on Friday. The firm presently has a $51.00 price target on the technology company’s stock. Evercore ISI’s price target would suggest a potential upside of 15.44% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Credit Suisse Group increased their target price on Square from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. Barclays PLC reissued an “overweight” rating and issued a $28.00 price objective (up previously from $21.00) on shares of Square in a research report on Thursday, August 3rd. Craig Hallum reissued a “hold” rating and issued a $23.00 price objective (up previously from $18.00) on shares of Square in a research report on Thursday, August 3rd. Wedbush initiated coverage on Square in a research report on Thursday, August 3rd. They issued a “neutral” rating and a $28.00 price objective for the company. Finally, Citigroup Inc. cut Square from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research report on Thursday, November 9th. Fourteen research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.94.

Shares of Square (NYSE SQ) opened at $44.18 on Friday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48. Square has a 52-week low of $12.08 and a 52-week high of $45.74.

Square (NYSE:SQ) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $257.12 million for the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The business’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. research analysts predict that Square will post -0.16 earnings per share for the current year.

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In other news, insider Ajmere Dale sold 20,286 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $39.12, for a total transaction of $793,588.32. Following the sale, the insider now owns 134,518 shares of the company’s stock, valued at $5,262,344.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $39.15, for a total value of $15,660,000.00. Following the sale, the director now directly owns 507,732 shares in the company, valued at approximately $19,877,707.80. The disclosure for this sale can be found here. Insiders sold 1,394,791 shares of company stock worth $45,611,401 over the last quarter. 32.68% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of SQ. Teachers Advisors LLC increased its position in shares of Square by 11.6% during the first quarter. Teachers Advisors LLC now owns 256,516 shares of the technology company’s stock worth $4,433,000 after acquiring an additional 26,712 shares during the period. Legal & General Group Plc increased its position in shares of Square by 2,210.9% during the first quarter. Legal & General Group Plc now owns 28,540 shares of the technology company’s stock worth $493,000 after acquiring an additional 27,305 shares during the period. Geode Capital Management LLC grew its stake in shares of Square by 12.9% during the first quarter. Geode Capital Management LLC now owns 230,557 shares of the technology company’s stock worth $3,984,000 after purchasing an additional 26,262 shares in the last quarter. BlackRock Inc. grew its stake in shares of Square by 7,162.2% during the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock worth $93,023,000 after purchasing an additional 5,309,197 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Square by 101.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 45,653 shares of the technology company’s stock worth $789,000 after purchasing an additional 23,021 shares in the last quarter. 53.24% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Square (NYSE:SQ)

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