Square (NYSE:SQ)‘s stock had its “neutral” rating reissued by stock analysts at Susquehanna Bancshares in a research report issued on Thursday, Marketbeat.com reports. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued research reports about the company. Buckingham Research upgraded Square from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $85.00 in a research note on Monday, August 6th. Credit Suisse Group upgraded Square from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $44.00 to $81.00 in a research note on Thursday, July 19th. Guggenheim upped their price objective on Square from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Canaccord Genuity upgraded Square from a “hold” rating to a “buy” rating and upped their price objective for the stock from $60.00 to $90.00 in a research note on Friday, October 12th. Finally, SunTrust Banks upped their price objective on Square to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, October 17th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Square currently has an average rating of “Hold” and an average target price of $78.59.
NYSE SQ traded down $1.96 during trading on Thursday, hitting $73.27. The stock had a trading volume of 17,254,739 shares, compared to its average volume of 20,881,962. The stock has a market capitalization of $33.94 billion, a price-to-earnings ratio of -732.70 and a beta of 4.30. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.18 and a current ratio of 2.18. Square has a 12 month low of $34.14 and a 12 month high of $101.15.
Square (NYSE:SQ) last released its earnings results on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The firm had revenue of $431.00 million for the quarter, compared to analysts’ expectations of $414.19 million. Square had a negative return on equity of 1.18% and a negative net margin of 0.87%. The business’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. On average, equities research analysts forecast that Square will post -0.04 EPS for the current year.
In other Square news, insider Sivan Whiteley sold 5,224 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $99.41, for a total value of $519,317.84. Following the transaction, the insider now directly owns 490,344 shares of the company’s stock, valued at approximately $48,745,097.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alyssa Henry sold 75,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $72.42, for a total value of $5,431,500.00. Following the completion of the transaction, the insider now directly owns 519,544 shares in the company, valued at $37,625,376.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,300,650 shares of company stock worth $187,755,700. 27.99% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SQ. FIL Ltd grew its holdings in Square by 75.2% in the 3rd quarter. FIL Ltd now owns 2,965,450 shares of the technology company’s stock valued at $293,609,000 after buying an additional 1,272,790 shares in the last quarter. American Century Companies Inc. grew its holdings in Square by 2,070.5% in the 2nd quarter. American Century Companies Inc. now owns 827,790 shares of the technology company’s stock valued at $51,025,000 after buying an additional 789,651 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Square by 85.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,450,154 shares of the technology company’s stock valued at $143,579,000 after buying an additional 668,394 shares in the last quarter. Korea Investment CORP acquired a new position in Square in the 2nd quarter valued at $36,435,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Square by 8.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,700,722 shares of the technology company’s stock valued at $289,753,000 after buying an additional 353,037 shares in the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.
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 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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