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.
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.
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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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