Square, Inc. (NYSE:SQ) Rating Reiterated by Canaccord Genuity

Canaccord Genuity reiterated their hold rating on shares of Square, Inc. (NYSE:SQ) in a research report released on Wednesday. Canaccord Genuity currently has a $26.00 price objective on the technology company’s stock, up from their previous price objective of $18.00.

SQ has been the topic of several other research reports. Vetr raised shares of Square from a buy rating to a strong-buy rating and set a $26.28 target price on the stock in a research note on Monday, July 10th. Zacks Investment Research raised shares of Square from a hold rating to a buy rating and set a $30.00 price target on the stock in a research report on Tuesday, August 1st. Citigroup Inc. boosted their price target on shares of Square from $23.00 to $30.00 and gave the company a buy rating in a research report on Thursday, July 6th. Deutsche Bank AG boosted their price target on shares of Square from $19.00 to $21.00 and gave the company a buy rating in a research report on Monday, May 15th. Finally, Piper Jaffray Companies reissued a hold rating and set a $24.00 price target on shares of Square in a research report on Wednesday, July 26th. Eleven analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $24.61.

Square (NYSE SQ) opened at 24.82 on Wednesday. The company’s market cap is $9.52 billion. Square has a 52-week low of $10.88 and a 52-week high of $27.97. The firm’s 50-day moving average is $25.32 and its 200 day moving average is $20.07.

Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The company had revenue of $240 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The firm’s quarterly revenue was up 40.4% on a year-over-year basis. On average, equities research analysts predict that Square will post $0.24 EPS for the current fiscal year.

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In other news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $26.39, for a total value of $1,013,376.00. Following the completion of the sale, the chief financial officer now directly owns 368,791 shares of the company’s stock, valued at $9,732,394.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jack Dorsey sold 381,500 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $20.42, for a total value of $7,790,230.00. The disclosure for this sale can be found here. Insiders sold 914,900 shares of company stock valued at $20,202,610 over the last ninety days. 32.68% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of SQ. Cambridge Investment Research Advisors Inc. increased its stake in Square by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock valued at $175,000 after buying an additional 30 shares during the last quarter. Raymond James Trust N.A. increased its stake in Square by 1.3% in the second quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock valued at $357,000 after buying an additional 193 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Square by 2.1% in the second quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock valued at $240,000 after buying an additional 212 shares during the last quarter. Stifel Financial Corp increased its stake in Square by 1.8% in the first quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock valued at $461,000 after buying an additional 473 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Square by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock valued at $1,084,000 after buying an additional 513 shares during the last quarter. 76.25% of the stock is 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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