Vetr Inc. Upgrades Square Inc. (SQ) to “Buy”
Square Inc. (NYSE:SQ) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The firm presently has a $13.58 price target on the stock. Vetr‘s price objective suggests a potential upside of 8.99% from the company’s previous close.
SQ has been the topic of several other reports. Jefferies Group restated a “buy” rating and set a $15.00 price target on shares of Square in a report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Thursday, October 6th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $13.00 price target on shares of Square in a report on Friday, October 7th. Stifel Nicolaus upgraded shares of Square from a “hold” rating to a “buy” rating and boosted their price target for the stock from $8.06 to $15.00 in a report on Monday, August 22nd. Finally, Pacific Crest upgraded shares of Square from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Monday, November 14th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Square currently has an average rating of “Buy” and an average price target of $13.06.
Square (NYSE:SQ) opened at 12.46 on Monday. The company’s market capitalization is $4.39 billion. The stock’s 50 day moving average is $11.71 and its 200 day moving average is $10.75. Square has a one year low of $8.06 and a one year high of $15.91.
Square (NYSE:SQ) last posted its earnings results on Tuesday, November 1st. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Square had a negative net margin of 12.55% and a negative return on equity of 31.99%. The company earned $439 million during the quarter, compared to the consensus estimate of $374.36 million. Square’s revenue was up 50.9% on a year-over-year basis. On average, analysts anticipate that Square will post ($0.55) earnings per share for the current fiscal year.
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In other news, insider Francoise Brougher sold 173,077 shares of the stock in a transaction on Friday, November 4th. The shares were sold at an average price of $12.00, for a total value of $2,076,924.00. Following the transaction, the insider now owns 265,243 shares of the company’s stock, valued at approximately $3,182,916. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $11.27, for a total transaction of $4,508,000.00. Following the completion of the transaction, the director now directly owns 424,837 shares in the company, valued at approximately $4,787,912.99. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of SQ. The Manufacturers Life Insurance Company acquired a new stake in shares of Square during the third quarter worth about $112,000. Two Sigma Securities LLC acquired a new stake in shares of Square during the third quarter worth about $118,000. Aviance Capital Partners LLC acquired a new stake in shares of Square during the third quarter worth about $119,000. M&T Bank Corp acquired a new stake in shares of Square during the third quarter worth about $128,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Square during the second quarter worth about $107,000. 26.73% of the stock is currently owned by hedge funds and other institutional investors.
Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.
To view Vetr’s full report, visit Vetr’s official website.
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