Square, Inc. (NYSE:SQ)‘s stock had its “hold” rating reiterated by equities researchers at Piper Jaffray Companies in a report issued on Wednesday. They currently have a $24.00 price target on the technology company’s stock. Piper Jaffray Companies’ target price would indicate a potential downside of 10.75% from the stock’s previous close.
SQ has been the subject of a number of other research reports. BTIG Research reissued a “buy” rating and set a $20.00 target price on shares of Square in a report on Friday, May 5th. Vetr cut Square from a “strong-buy” rating to a “buy” rating and set a $19.66 price target for the company. in a report on Thursday, April 20th. Mizuho started coverage on Square in a report on Wednesday, June 28th. They issued a “buy” rating and a $28.00 price target for the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Square in a report on Thursday, July 6th. Finally, Tigress Financial started coverage on Square in a report on Friday, May 19th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Square presently has a consensus rating of “Buy” and a consensus target price of $21.58.
Shares of Square (NYSE:SQ) opened at 26.89 on Wednesday. The stock’s market capitalization is $10.06 billion. The stock has a 50 day moving average price of $24.49 and a 200-day moving average price of $19.05. Square has a 1-year low of $9.75 and a 1-year high of $26.92.
Square (NYSE:SQ) last announced its earnings results on Wednesday, May 3rd. The technology company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. Square had a negative return on equity of 15.81% and a negative net margin of 5.02%. The business had revenue of $461.55 million during the quarter, compared to analysts’ expectations of $450.66 million. On average, analysts forecast that Square will post ($0.19) earnings per share for the current year.
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In related news, Director James Morgan Jr. Mckelvey sold 90,000 shares of Square stock in a transaction on Monday, June 5th. The stock was sold at an average price of $23.36, for a total value of $2,102,400.00. Following the completion of the transaction, the director now directly owns 186,308 shares in the company, valued at $4,352,154.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $26.39, for a total value of $1,013,376.00. Following the completion of the transaction, the chief financial officer now owns 368,791 shares of the company’s stock, valued at $9,732,394.49. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,307,336 shares of company stock valued at $27,517,192. 32.68% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cullinan Associates Inc. raised its position in Square by 264.6% in the first quarter. Cullinan Associates Inc. now owns 82,400 shares of the technology company’s stock worth $1,424,000 after buying an additional 59,800 shares during the period. Howard Capital Management bought a new position in Square during the first quarter worth about $518,000. Skylands Capital LLC bought a new position in Square during the first quarter worth about $346,000. Macquarie Group Ltd. raised its position in Square by 34.8% in the fourth quarter. Macquarie Group Ltd. now owns 184,558 shares of the technology company’s stock worth $2,516,000 after buying an additional 47,600 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in Square during the fourth quarter worth about $314,000. Hedge funds and other institutional investors own 74.91% 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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