Square, Inc. (NYSE:SQ) has been assigned a consensus rating of “Buy” from the thirty-nine brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $43.94.
SQ has been the topic of several recent analyst reports. Deutsche Bank boosted their price objective on Square from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Monday, February 5th. Vetr raised Square from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Monday, February 5th. Nomura reaffirmed a “buy” rating and set a $64.00 target price (up previously from $48.00) on shares of Square in a research note on Friday, January 19th. Finally, Stephens reaffirmed a “buy” rating and set a $41.00 target price on shares of Square in a research note on Wednesday, January 10th.
NYSE SQ traded down $1.70 on Friday, hitting $47.99. 7,134,350 shares of the company were exchanged, compared to its average volume of 15,104,532. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46. The company has a market cap of $18,929.96, a PE ratio of -479.90 and a beta of 4.21. Square has a twelve month low of $16.82 and a twelve month high of $58.46.
Square (NYSE:SQ) last posted its quarterly earnings data on Tuesday, February 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The firm had revenue of $616.04 million for the quarter, compared to the consensus estimate of $601.63 million. Square had a negative return on equity of 6.60% and a negative net margin of 2.84%. research analysts forecast that Square will post 0.02 EPS for the current fiscal year.
In related news, insider Jacqueline D. Reses sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $47.76, for a total value of $716,400.00. Following the completion of the sale, the insider now directly owns 589,283 shares in the company, valued at approximately $28,144,156.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $41.46, for a total value of $1,592,064.00. Following the completion of the sale, the chief financial officer now owns 349,123 shares of the company’s stock, valued at $14,474,639.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,372,655 shares of company stock valued at $62,988,834. Corporate insiders own 32.68% of the company’s stock.
Several hedge funds have recently modified their holdings of SQ. Jennison Associates LLC acquired a new position in shares of Square during the fourth quarter worth approximately $86,426,000. BlackRock Inc. raised its stake in shares of Square by 18.4% in the fourth quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock valued at $450,913,000 after purchasing an additional 2,024,019 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Square by 458.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,962,828 shares of the technology company’s stock valued at $68,051,000 after purchasing an additional 1,611,446 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Square in the third quarter valued at $44,337,000. Finally, Carillon Tower Advisers Inc. acquired a new position in shares of Square in the fourth quarter valued at $31,189,000. Institutional investors own 52.34% of the company’s stock.
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Square Company Profile
Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts Europay, MasterCard, and Visa (EMV) chip cards and Near Field Communication payments; Chip card reader, which accepts EMV chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.
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