Todays Report: Today: Square Inc. (SQ) Upgrade to Buy at Vetr Inc.

Today: Square Inc. (SQ) Upgrade to Buy at Vetr Inc.

Square Inc. (NYSE:SQ) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $13.58 price objective on the stock. Vetr‘s price target suggests a potential upside of 6.51% from the stock’s previous close.

A number of other brokerages have also commented on SQ. BTIG Research reaffirmed a “buy” rating and set a $12.00 target price on shares of Square in a research report on Thursday, August 4th. Evercore ISI raised their target price on shares of Square from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, August 4th. SunTrust Banks Inc. raised their target price on shares of Square from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. Jefferies Group reaffirmed a “buy” rating and set a $15.00 target price on shares of Square in a research report on Thursday, November 3rd. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $11.50 target price (up from $10.00) on shares of Square in a research report on Friday, August 5th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $13.06.

Square (NYSE:SQ) opened at 12.75 on Monday. The company has a 50-day moving average price of $11.68 and a 200 day moving average price of $10.71. The company’s market capitalization is $4.49 billion. Square has a 52-week low of $8.06 and a 52-week high of $15.91.

Square (NYSE:SQ) last posted its quarterly earnings data on Tuesday, November 1st. The company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.02. Square had a negative net margin of 12.55% and a negative return on equity of 31.99%. The company had revenue of $439 million for the quarter, compared to analyst estimates of $374.36 million. The firm’s revenue for the quarter was up 50.9% compared to the same quarter last year. Equities research analysts anticipate that Square will post ($0.55) earnings per share for the current year.

In other Square news, insider Francoise Brougher sold 173,077 shares of Square stock in a transaction on Friday, November 4th. The shares were sold at an average price of $12.00, for a total value of $2,076,924.00. Following the completion of the transaction, the insider now owns 265,243 shares of the company’s stock, valued at $3,182,916. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction on Monday, November 7th. The shares were sold at an average price of $12.27, for a total transaction of $4,908,000.00. Following the completion of the transaction, the director now directly owns 494,997 shares of the company’s stock, valued at approximately $6,073,613.19. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its position in Square by 128.9% in the third quarter. Jane Street Group LLC now owns 75,864 shares of the company’s stock worth $885,000 after buying an additional 42,723 shares during the last quarter. Blackstone Group L.P. purchased a new position in Square during the third quarter worth $14,943,000. Capital World Investors boosted its position in Square by 131.4% in the third quarter. Capital World Investors now owns 10,813,575 shares of the company’s stock worth $126,086,000 after buying an additional 6,140,745 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Square during the third quarter worth $112,000. Finally, Analytic Investors LLC boosted its position in Square by 103.7% in the third quarter. Analytic Investors LLC now owns 1,471,434 shares of the company’s stock worth $17,157,000 after buying an additional 749,102 shares during the last quarter. 20.48% of the stock is owned by institutional investors.

Square Company Profile

Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.

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