Analysts at Wells Fargo & Company started coverage on shares of Square, Inc. (NYSE:SQ) in a research note issued to investors on Tuesday. The firm set a “market perform” rating and a $42.00 price target on the technology company’s stock. Wells Fargo & Company’s price target suggests a potential downside of 13.95% from the stock’s previous close.
SQ has been the topic of several other reports. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, August 1st. Vetr downgraded shares of Square from a “buy” rating to a “hold” rating and set a $45.60 target price on the stock. in a research report on Monday. Credit Suisse Group lifted their target price 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. Cantor Fitzgerald lifted their target price on shares of Square to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, November 9th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Square in a research report on Monday. Fifteen research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Square has an average rating of “Buy” and a consensus target price of $33.44.
Shares of Square (SQ) opened at $48.81 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81. Square has a 1 year low of $12.32 and a 1 year high of $49.55.
Square (NYSE:SQ) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The business had revenue of $257.12 million for the quarter, compared to the consensus estimate of $244.95 million. During the same period last year, the company earned $0.01 EPS. The firm’s revenue was up 44.6% compared to the same quarter last year. research analysts forecast that Square will post -0.16 earnings per share for the current year.
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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $39.15, for a total value of $15,660,000.00. Following the completion of the sale, the director now owns 507,732 shares in the company, valued at approximately $19,877,707.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the insider now owns 134,518 shares of the company’s stock, valued at approximately $5,262,344.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,337,191 shares of company stock valued at $44,138,761 in the last 90 days. 32.68% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC grew its stake in shares of Square by 5,187.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 540,000 shares of the technology company’s stock worth $15,557,000 after acquiring an additional 529,788 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Square by 4.1% in the 3rd quarter. California Public Employees Retirement System now owns 368,151 shares of the technology company’s stock worth $10,606,000 after acquiring an additional 14,451 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Square by 256.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 59,112 shares of the technology company’s stock worth $1,701,000 after acquiring an additional 42,506 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Square in the 3rd quarter worth $44,337,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Square in the 3rd quarter worth $5,039,000. Hedge funds and other institutional investors own 53.64% 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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