Square (NYSE:SQ) Lifted to “Outperform” at Evercore ISI

Square (NYSE:SQ) was upgraded by Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued on Friday, November 17th, MarketBeat.com reports. The firm currently has a $51.00 price objective on the technology company’s stock. Evercore ISI’s target price points to a potential upside of 33.44% from the company’s current price.

SQ has been the topic of a number of other research reports. Citigroup lifted their target price on Square from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Vetr cut Square from a “strong-buy” rating to a “buy” rating and set a $30.12 price target on the stock. in a report on Tuesday, September 12th. Goldman Sachs Group upgraded Square to a “buy” rating in a report on Thursday, November 16th. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, August 1st. Finally, Oppenheimer initiated coverage on Square in a report on Thursday, October 12th. They set an “outperform” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.82.

Square (NYSE:SQ) opened at $38.22 on Friday. Square has a 52 week low of $12.93 and a 52 week high of $49.56. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.

Square (NYSE:SQ) last released its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm had revenue of $257.12 million for the quarter, compared to analysts’ expectations of $244.95 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The business’s revenue for the quarter was up 44.6% on a year-over-year basis. equities research analysts anticipate that Square will post -0.16 EPS for the current fiscal year.

In other news, CEO Jack Dorsey sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $40.48, for a total transaction of $2,024,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $27.22, for a total value of $10,888,000.00. Following the completion of the sale, the director now directly owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The disclosure for this sale can be found here. Insiders have sold 1,425,591 shares of company stock worth $47,976,777 over the last ninety days. 32.68% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQ. Raymond James Trust N.A. grew its stake in Square by 1.3% in the 2nd quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock valued at $357,000 after purchasing an additional 193 shares during the period. Neuberger Berman Group LLC grew its stake in shares of Square by 2.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock worth $240,000 after acquiring an additional 212 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Square by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock worth $1,084,000 after acquiring an additional 513 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Square by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,706 shares of the technology company’s stock worth $274,000 after acquiring an additional 921 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 during the period. 54.31% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This story was originally posted by Week Herald and is the sole property of of Week Herald. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://weekherald.com/2017/12/04/square-inc-sq-upgraded-to-outperform-at-evercore-isi.html.

About Square

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)

Receive News & Ratings for Square Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply