Citigroup Inc. Raises Square, Inc. (SQ) Price Target to $38.00

Square, Inc. (NYSE:SQ) had its target price lifted by Citigroup Inc. from $30.00 to $38.00 in a research note released on Wednesday morning. They currently have a buy rating on the technology company’s stock.

Several other research analysts have also recently issued reports on the stock. Bank of America Corporation initiated coverage on shares of Square in a report on Tuesday, September 12th. They issued a neutral rating on the stock. Vetr upgraded shares of Square from a buy rating to a strong-buy rating and set a $26.28 target price on the stock in a report on Tuesday, July 4th. Cantor Fitzgerald initiated coverage on shares of Square in a report on Tuesday, September 12th. They issued an overweight rating and a $31.00 target price on the stock. Stifel Nicolaus restated a buy rating and issued a $29.00 target price (up previously from $23.00) on shares of Square in a report on Sunday, July 30th. Finally, BTIG Research restated a neutral rating on shares of Square in a report on Thursday, September 7th. Eleven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Square currently has a consensus rating of Buy and an average price target of $26.57.

Shares of Square (NYSE SQ) traded up 1.18% on Wednesday, hitting $32.50. 5,925,969 shares of the stock were exchanged. The company has a 50 day moving average of $29.35 and a 200 day moving average of $24.34. Square has a 52-week low of $11.00 and a 52-week high of $33.31. The company’s market cap is $12.47 billion.

Square (NYSE:SQ) last issued 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 firm had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s revenue was up 40.4% on a year-over-year basis. Equities research analysts forecast that Square will post $0.24 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This report was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this report can be viewed at https://ledgergazette.com/2017/10/21/citigroup-inc-raises-square-inc-sq-price-target-to-38-00.html.

In other news, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $25.58, for a total value of $982,272.00. Following the completion of the transaction, the chief financial officer now owns 366,103 shares of the company’s stock, valued at approximately $9,364,914.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total value of $10,008,000.00. Following the completion of the transaction, the director now directly owns 507,385 shares of the company’s stock, valued at approximately $12,694,772.70. The disclosure for this sale can be found here. Insiders have sold 1,353,600 shares of company stock valued at $38,351,040 in the last three months. Insiders own 32.68% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Almanack Investment Partners LLC. purchased a new position in shares of Square in the 2nd quarter worth about $117,000. Riverhead Capital Management LLC purchased a new position in shares of Square in the 2nd quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,099 shares during the last quarter. FNY Partners Fund LP raised its position in shares of Square by 55.4% in the 1st quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock worth $174,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Square by 0.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,

Several other research analysts have also recently issued reports on the stock. Bank of America Corporation initiated coverage on shares of Square in a report on Tuesday, September 12th. They issued a neutral rating on the stock. Vetr upgraded shares of Square from a buy rating to a strong-buy rating and set a $26.28 target price on the stock in a report on Tuesday, July 4th. Cantor Fitzgerald initiated coverage on shares of Square in a report on Tuesday, September 12th. They issued an overweight rating and a $31.00 target price on the stock. Stifel Nicolaus restated a buy rating and issued a $29.00 target price (up previously from $23.00) on shares of Square in a report on Sunday, July 30th. Finally, BTIG Research restated a neutral rating on shares of Square in a report on Thursday, September 7th. Eleven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Square currently has a consensus rating of Buy and an average price target of $26.57.

Shares of Square (NYSE SQ) traded up 1.18% on Wednesday, hitting $32.50. 5,925,969 shares of the stock were exchanged. The company has a 50 day moving average of $29.35 and a 200 day moving average of $24.34. Square has a 52-week low of $11.00 and a 52-week high of $33.31. The company’s market cap is $12.47 billion.

Square (NYSE:SQ) last issued 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 firm had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s revenue was up 40.4% on a year-over-year basis. Equities research analysts forecast that Square will post $0.24 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This report was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this report can be viewed at https://ledgergazette.com/2017/10/21/citigroup-inc-raises-square-inc-sq-price-target-to-38-00.html.

In other news, CFO Sarah Friar sold 38,400 shares of Square stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $25.58, for a total value of $982,272.00. Following the completion of the transaction, the chief financial officer now owns 366,103 shares of the company’s stock, valued at approximately $9,364,914.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $25.02, for a total value of $10,008,000.00. Following the completion of the transaction, the director now directly owns 507,385 shares of the company’s stock, valued at approximately $12,694,772.70. The disclosure for this sale can be found here. Insiders have sold 1,353,600 shares of company stock valued at $38,351,040 in the last three months. Insiders own 32.68% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Almanack Investment Partners LLC. purchased a new position in shares of Square in the 2nd quarter worth about $117,000. Riverhead Capital Management LLC purchased a new position in shares of Square in the 2nd quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,099 shares during the last quarter. FNY Partners Fund LP raised its position in shares of Square by 55.4% in the 1st quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock worth $174,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position 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 purchasing an additional 30 shares during the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

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)

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