Stephens cut shares of Square (NYSE:SQ) from an overweight rating to an equal weight rating in a research report released on Tuesday morning, MarketBeat.com reports.
Other equities analysts have also issued research reports about the stock. Guggenheim reiterated a buy rating and set a $50.00 price objective on shares of Square in a report on Thursday, March 1st. Needham & Company LLC upped their price objective on shares of Square from $45.00 to $55.00 and gave the company a buy rating in a report on Wednesday, February 28th. UBS Group upped their price objective on shares of Square to $47.00 and gave the company a buy rating in a report on Wednesday, February 28th. Vetr lowered shares of Square from a strong-buy rating to a buy rating and set a $51.48 price objective on the stock. in a report on Tuesday, February 27th. Finally, Deutsche Bank upped their price objective on shares of Square from $47.00 to $57.00 and gave the company a buy rating in a report on Friday, March 23rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $49.54.
Shares of NYSE SQ opened at $62.55 on Tuesday. Square has a 1-year low of $22.66 and a 1-year high of $69.40. The stock has a market cap of $26.35 billion, a PE ratio of -625.50 and a beta of 4.32. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45.
Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The firm had revenue of $307.00 million for the quarter, compared to analyst estimates of $293.07 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 50.5% compared to the same quarter last year. equities analysts anticipate that Square will post 0.01 EPS for the current year.
In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $46.90, for a total transaction of $18,760,000.00. Following the completion of the transaction, the director now directly owns 468,223 shares of the company’s stock, valued at approximately $21,959,658.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline D. Reses sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $47.51, for a total transaction of $712,650.00. Following the transaction, the insider now directly owns 594,541 shares of the company’s stock, valued at $28,246,642.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,250,315 shares of company stock valued at $68,079,756. Company insiders own 27.99% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Ancora Advisors LLC grew its position in shares of Square by 13.4% during the 1st quarter. Ancora Advisors LLC now owns 11,225 shares of the technology company’s stock valued at $552,000 after acquiring an additional 1,325 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Square by 1.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 87,700 shares of the technology company’s stock valued at $4,318,000 after acquiring an additional 1,330 shares during the period. BB&T Securities LLC grew its position in shares of Square by 16.6% during the 4th quarter. BB&T Securities LLC now owns 10,902 shares of the technology company’s stock valued at $377,000 after acquiring an additional 1,550 shares during the period. Harwood Advisory Group LLC grew its position in shares of Square by 3.6% during the 1st quarter. Harwood Advisory Group LLC now owns 49,952 shares of the technology company’s stock valued at $2,456,000 after acquiring an additional 1,717 shares during the period. Finally, US Bancorp DE grew its position in shares of Square by 20.2% during the 4th quarter. US Bancorp DE now owns 10,251 shares of the technology company’s stock valued at $355,000 after acquiring an additional 1,724 shares during the period. 52.14% of the stock is 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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