Square, Inc. (SQ) Upgraded by Goldman Sachs Group, Inc. (The) to “Buy”

Goldman Sachs Group, Inc. (The) upgraded shares of Square, Inc. (NYSE:SQ) to a buy rating in a research note issued to investors on Thursday morning.

A number of other brokerages have also recently weighed in on SQ. Zacks Investment Research cut shares of Square from a buy rating to a hold rating in a research note on Tuesday. Jefferies Group LLC increased their price target on shares of Square from $38.00 to $44.00 and gave the stock a buy rating in a research note on Monday. Vetr cut shares of Square from a strong-buy rating to a buy rating and set a $43.40 price target for the company. in a research note on Monday. Oppenheimer Holdings, Inc. increased their price target on shares of Square from $35.00 to $41.00 and gave the stock an outperform rating in a research note on Friday, November 10th. Finally, Canaccord Genuity increased their price target on shares of Square from $26.00 to $33.00 and gave the stock a hold rating in a research note on Thursday, November 9th. Fourteen research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $32.37.

Square (SQ) traded up $2.28 during midday trading on Thursday, hitting $44.18. 39,179,619 shares of the company were exchanged, compared to its average volume of 7,564,633. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.48. Square has a 1 year low of $12.08 and a 1 year high of $45.74.

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

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In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $39.15, for a total value of $15,660,000.00. Following the completion of the sale, the director now directly owns 507,732 shares in the company, valued at $19,877,707.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ajmere Dale sold 20,286 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $39.12, for a total transaction of $793,588.32. Following the completion of the sale, the insider now owns 134,518 shares of the company’s stock, valued at $5,262,344.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,394,791 shares of company stock valued at $45,611,401. Insiders own 32.68% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Makena Capital Management LLC purchased a new stake in Square in the second quarter valued at approximately $4,561,000. California Public Employees Retirement System lifted its position in Square by 10.3% during the second quarter. California Public Employees Retirement System now owns 353,700 shares of the technology company’s stock valued at $8,298,000 after buying an additional 33,100 shares in the last quarter. Royce & Associates LP lifted its position in Square by 55.6% during the second quarter. Royce & Associates LP now owns 235,000 shares of the technology company’s stock valued at $5,513,000 after buying an additional 84,000 shares in the last quarter. California State Teachers Retirement System lifted its position in Square by 285.7% during the second quarter. California State Teachers Retirement System now owns 395,757 shares of the technology company’s stock valued at $9,284,000 after buying an additional 293,137 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in Square by 2.9% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,190,200 shares of the technology company’s stock valued at $74,842,000 after buying an additional 90,200 shares in the last quarter. Hedge funds and other institutional investors own 53.24% 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.

Analyst Recommendations for Square (NYSE:SQ)

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