Square (SQ) Receives a Buy from Oppenheimer


Oppenheimer analyst Dominick Gabriele assigned a Buy rating to Square (SQ) today and set a price target of $280.00. The company’s shares closed last Friday at $256.10, close to its 52-week high of $283.19.

According to TipRanks.com, Gabriele is a 4-star analyst with an average return of 18.8% and a 66.3% success rate. Gabriele covers the Financial sector, focusing on stocks such as Discover Financial Services, Capital One Financial, and Synchrony Financial.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Square with a $282.07 average price target, implying a 7.2% upside from current levels. In a report issued on April 7, Barclays also maintained a Buy rating on the stock with a $330.00 price target.

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Based on Square’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.16 billion and net profit of $294 million. In comparison, last year the company earned revenue of $1.31 billion and had a net profit of $391 million.

Based on the recent corporate insider activity of 153 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SQ in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2009, California-based Square, Inc. provides credit card payment processing solutions. The company’s commerce ecosystem offers point-of-sale software and hardware that helps sellers with payment and point-of-sale solutions.

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