Cowen initiated coverage on shares of Square (NYSE:SQ) in a research note released on Monday, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $36.00 price target on the technology company’s stock. The analysts noted that the move was a valuation call.
A number of other research analysts also recently issued reports on SQ. Zacks Investment Research upgraded shares of Square from a hold rating to a buy rating and set a $32.00 price target on the stock in a research report on Tuesday, October 3rd. Barclays lifted their price objective on shares of Square from $28.00 to $37.00 and gave the company an overweight rating in a research note on Thursday, November 9th. Vetr lowered shares of Square from a buy rating to a hold rating and set a $31.08 price objective for the company. in a research note on Wednesday, October 4th. Wells Fargo & Company started coverage on shares of Square in a research note on Tuesday, November 21st. They issued a market perform rating and a $42.00 price objective for the company. Finally, Deutsche Bank lifted their price objective on shares of Square to $37.00 and gave the company a buy rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Square currently has an average rating of Buy and an average price target of $33.88.
Shares of Square (SQ) opened at $36.19 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.48. Square has a 1-year low of $13.53 and a 1-year high of $49.56.
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. equities analysts forecast that Square will post -0.16 earnings per share for the current year.
In other news, insider Ajmere Dale sold 20,286 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $39.12, for a total value of $793,588.32. Following the sale, the insider now directly owns 134,518 shares of the company’s stock, valued at $5,262,344.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sarah Friar sold 19,200 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $28.41, for a total transaction of $545,472.00. Following the completion of the sale, the chief financial officer now directly owns 366,103 shares in the company, valued at $10,400,986.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,529,827 shares of company stock worth $56,341,434. Insiders own 32.68% of the company’s stock.
Several institutional investors have recently made changes to their positions in SQ. Neuberger Berman Group LLC increased its position in shares of Square by 5,187.9% in the third quarter. Neuberger Berman Group LLC now owns 540,000 shares of the technology company’s stock worth $15,557,000 after purchasing an additional 529,788 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Square by 4.1% in the third quarter. California Public Employees Retirement System now owns 368,151 shares of the technology company’s stock worth $10,606,000 after purchasing an additional 14,451 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Square by 256.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 59,112 shares of the technology company’s stock worth $1,701,000 after purchasing an additional 42,506 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Square in the third quarter worth approximately $44,337,000. Finally, Janus Henderson Group PLC bought a new position in shares of Square in the third quarter worth approximately $5,039,000. 54.31% of the stock is currently owned by hedge funds and other institutional investors.
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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