Square, Inc. (SQ) Price Target Raised to $31.00 at Bank of America Corporation

Square, Inc. (NYSE:SQ) had its price target upped by Bank of America Corporation from $29.00 to $31.00 in a report published on Monday. The brokerage currently has a neutral rating on the technology company’s stock.

SQ has been the topic of several other research reports. Zacks Investment Research raised shares of Square from a hold rating to a buy rating and set a $30.00 target price on the stock in a research note on Tuesday, August 1st. Mizuho assumed coverage on Square in a report on Wednesday, June 28th. They set a buy rating and a $28.00 price target on the stock. Jefferies Group LLC reiterated a buy rating and set a $28.00 price target on shares of Square in a report on Thursday, July 6th. Vetr lowered 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. Finally, Credit Suisse Group lifted their price target on Square from $25.00 to $26.00 and gave the stock a neutral rating in a report on Thursday, August 3rd. Twelve analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $25.48.

Shares of Square (NYSE SQ) opened at 31.07 on Monday. The company’s 50-day moving average is $27.52 and its 200-day moving average is $23.45. The stock’s market cap is $11.92 billion. Square has a 1-year low of $10.88 and a 1-year high of $31.52.

Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The company had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The firm’s quarterly revenue was up 40.4% on a year-over-year basis. Equities analysts expect that Square will post $0.24 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Square, Inc. (SQ) Price Target Raised to $31.00 at Bank of America Corporation” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/10/square-inc-sq-price-target-raised-to-31-00-at-bank-of-america-corporation.html.

In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the sale, the director now owns 507,385 shares of the company’s stock, valued at approximately $13,811,019.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $26.39, for a total value of $1,013,376.00. Following the completion of the sale, the chief financial officer now directly owns 368,791 shares in the company, valued at approximately $9,732,394.49. The disclosure for this sale can be found here. Insiders have sold a total of 972,800 shares of company stock worth $25,520,512 in the last ninety days. 32.68% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Square by 0.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock worth $175,000 after buying an additional 30 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Square by 1.3% in the 2nd quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock worth $357,000 after buying an additional 193 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Square by 2.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock worth $240,000 after buying an additional 212 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Square by 1.8% in the 1st quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock worth $461,000 after buying an additional 473 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of

SQ has been the topic of several other research reports. Zacks Investment Research raised shares of Square from a hold rating to a buy rating and set a $30.00 target price on the stock in a research note on Tuesday, August 1st. Mizuho assumed coverage on Square in a report on Wednesday, June 28th. They set a buy rating and a $28.00 price target on the stock. Jefferies Group LLC reiterated a buy rating and set a $28.00 price target on shares of Square in a report on Thursday, July 6th. Vetr lowered 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. Finally, Credit Suisse Group lifted their price target on Square from $25.00 to $26.00 and gave the stock a neutral rating in a report on Thursday, August 3rd. Twelve analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $25.48.

Shares of Square (NYSE SQ) opened at 31.07 on Monday. The company’s 50-day moving average is $27.52 and its 200-day moving average is $23.45. The stock’s market cap is $11.92 billion. Square has a 1-year low of $10.88 and a 1-year high of $31.52.

Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The company had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The firm’s quarterly revenue was up 40.4% on a year-over-year basis. Equities analysts expect that Square will post $0.24 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Square, Inc. (SQ) Price Target Raised to $31.00 at Bank of America Corporation” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/10/square-inc-sq-price-target-raised-to-31-00-at-bank-of-america-corporation.html.

In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the sale, the director now owns 507,385 shares of the company’s stock, valued at approximately $13,811,019.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $26.39, for a total value of $1,013,376.00. Following the completion of the sale, the chief financial officer now directly owns 368,791 shares in the company, valued at approximately $9,732,394.49. The disclosure for this sale can be found here. Insiders have sold a total of 972,800 shares of company stock worth $25,520,512 in the last ninety days. 32.68% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Square by 0.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock worth $175,000 after buying an additional 30 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Square by 1.3% in the 2nd quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock worth $357,000 after buying an additional 193 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Square by 2.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock worth $240,000 after buying an additional 212 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Square by 1.8% in the 1st quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock worth $461,000 after buying an additional 473 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Square by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock worth $1,084,000 after buying an additional 513 shares in the last quarter. 53.83% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Square (NYSE:SQ)

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