Shares of Square, Inc. (NYSE:SQ) have been assigned a consensus recommendation of “Buy” from the thirty-six ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, twenty-one have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $86.99.
SQ has been the topic of several recent analyst reports. Canaccord Genuity upgraded Square from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $90.00 in a report on Friday, October 12th. SunTrust Banks boosted their price objective on Square to $74.00 and gave the stock a “buy” rating in a report on Wednesday, October 17th. They noted that the move was a valuation call. Citigroup upgraded Square from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Tuesday, November 6th. UBS Group downgraded Square from a “positive” rating to a “neutral” rating in a report on Thursday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $91.00 price objective (up previously from $76.00) on shares of Square in a report on Thursday, November 8th.
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NYSE SQ traded up $1.54 on Friday, hitting $73.49. 9,943,156 shares of the company were exchanged, compared to its average volume of 16,327,341. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.80. The company has a market cap of $29.75 billion, a PE ratio of -734.90, a PEG ratio of 35.24 and a beta of 3.68. Square has a twelve month low of $36.76 and a twelve month high of $101.15.
Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The firm had revenue of $431.00 million for the quarter, compared to the consensus estimate of $414.19 million. Square had a negative return on equity of 1.11% and a negative net margin of 0.87%. The business’s revenue for the quarter was up 67.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. Research analysts forecast that Square will post -0.02 EPS for the current fiscal year.
In related news, CEO Jack Dorsey sold 103,035 shares of the stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $71.83, for a total value of $7,401,004.05. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ajmere Dale sold 2,048 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $71.76, for a total value of $146,964.48. Following the completion of the transaction, the insider now owns 88,621 shares in the company, valued at approximately $6,359,442.96. The disclosure for this sale can be found here. Insiders sold 2,233,222 shares of company stock worth $146,117,658 in the last 90 days. 27.99% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its position in Square by 4,800.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,698,238 shares of the technology company’s stock worth $66,000 after purchasing an additional 3,622,766 shares during the period. Jennison Associates LLC boosted its position in Square by 34.3% during the fourth quarter. Jennison Associates LLC now owns 9,663,722 shares of the technology company’s stock worth $542,038,000 after purchasing an additional 2,470,434 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in Square by 11,275.7% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,998,253 shares of the technology company’s stock worth $112,082,000 after purchasing an additional 1,980,687 shares during the period. Nikko Asset Management Americas Inc. boosted its position in Square by 45.3% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 4,238,388 shares of the technology company’s stock worth $237,731,000 after purchasing an additional 1,321,321 shares during the period. Finally, FIL Ltd boosted its position in Square by 75.2% during the third quarter. FIL Ltd now owns 2,965,450 shares of the technology company’s stock worth $293,609,000 after purchasing an additional 1,272,790 shares during the period. Hedge funds and other institutional investors own 48.57% of the company’s stock.
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 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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