Analysts at Mizuho assumed coverage on shares of Square, Inc. (NYSE:SQ) in a research report issued on Wednesday, June 28th, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $28.00 price target on the technology company’s stock. Mizuho’s target price would indicate a potential upside of 6.91% from the company’s current price.
SQ has been the subject of a number of other research reports. BTIG Research restated a “buy” rating and set a $20.00 target price on shares of Square in a research note on Friday, May 5th. Vetr lowered shares of Square from a “strong-buy” rating to a “buy” rating and set a $19.66 price target on the stock. in a research report on Thursday, April 20th. Tigress Financial assumed coverage on shares of Square in a research report on Friday, May 19th. They set a “buy” rating on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $21.00 price target (up from $18.00) on shares of Square in a research report on Thursday, May 4th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Square in a research report on Tuesday, March 21st. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.86.
Shares of Square (SQ) opened at 26.19 on Wednesday. The company’s market cap is $9.80 billion. The company has a 50-day moving average of $22.69 and a 200-day moving average of $17.72. Square has a 1-year low of $9.10 and a 1-year high of $26.65.
Square (NYSE:SQ) last posted its earnings results on Wednesday, May 3rd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $461.55 million during the quarter, compared to analysts’ expectations of $450.66 million. Square had a negative net margin of 5.02% and a negative return on equity of 15.81%. Equities analysts forecast that Square will post ($0.19) EPS for the current year.
In related news, CEO Jack Dorsey sold 381,500 shares of Square stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $18.63, for a total transaction of $7,107,345.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alyssa Henry sold 5,406 shares of Square stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $18.23, for a total transaction of $98,551.38. Following the sale, the insider now owns 475,238 shares in the company, valued at $8,663,588.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,296,238 shares of company stock worth $26,804,924 over the last ninety days. 32.68% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in Square by 22.7% in the first quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after buying an additional 1,090 shares in the last quarter. Glassman Wealth Services increased its stake in Square by 1,987.3% in the first quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock valued at $114,000 after buying an additional 6,260 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in Square during the first quarter valued at approximately $131,000. CENTRAL TRUST Co increased its stake in Square by 683.7% in the second quarter. CENTRAL TRUST Co now owns 8,613 shares of the technology company’s stock valued at $203,000 after buying an additional 7,514 shares in the last quarter. Finally, FNY Partners Fund LP increased its stake in Square by 55.4% in the first quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock valued at $174,000 after buying an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 76.60% 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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