KeyCorp Increases Square, Inc. (NYSE:SQ) Price Target to $32.00
Square, Inc. (NYSE:SQ) had its price target raised by KeyCorp from $29.00 to $32.00 in a research report sent to investors on Tuesday, October 3rd, MarketBeat Ratings reports. KeyCorp currently has an overweight rating on the technology company’s stock.
SQ has been the subject of several other research reports. Zacks Investment Research upgraded shares of Square from a hold rating to a buy rating and set a $30.00 price objective for the company in a research report on Tuesday, August 1st. Mizuho initiated coverage on shares of Square in a research report on Wednesday, June 28th. They set a buy rating and a $28.00 target price for the company. Jefferies Group LLC reiterated a buy rating and set a $28.00 target price on shares of Square in a research report on Thursday, July 6th. Vetr cut shares of Square from a strong-buy rating to a buy rating and set a $30.12 target price for the company. in a research report on Tuesday, September 12th. Finally, Credit Suisse Group upped their target price on shares of Square from $25.00 to $26.00 and gave the company a neutral rating in a research report on Thursday, August 3rd. Thirteen analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $26.11.
Shares of Square (NYSE SQ) remained flat at $32.81 during trading on Tuesday. 7,135,562 shares of the stock traded hands. The firm’s market cap is $12.59 billion. The stock’s 50-day moving average is $28.32 and its 200-day moving average is $23.79. Square has a 1-year low of $10.88 and a 1-year high of $33.22.
Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $240.00 million for the quarter, compared to the consensus estimate of $228.64 million. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. Square’s revenue was up 40.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS. Analysts predict that Square will post $0.24 EPS for the current year.
In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $27.22, for a total transaction of $10,888,000.00. Following the transaction, the director now directly owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $28.36, for a total transaction of $1,089,024.00. Following the transaction, the chief financial officer now directly owns 366,103 shares in the company, valued at $10,382,681.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 972,800 shares of company stock worth $25,520,512. Insiders own 32.68% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SQ. Pacer Advisors Inc. boosted its position in shares of Square by 22.7% during the 1st quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,090 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of Square during the 2nd quarter worth approximately $117,000. Riverhead Capital Management LLC acquired a new stake in shares of Square during the 2nd quarter worth approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Square by 19.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,099 shares in the last quarter. Finally, FNY Partners Fund LP boosted its position in shares of Square by 55.4% during the 1st quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock worth $174,000 after acquiring an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 53.83% 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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