Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Square (SQ) Share Price
Media coverage about Square (NYSE:SQ) has been trending somewhat positive this week, Accern reports. The research firm rates the sentiment of press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Square earned a news sentiment score of 0.08 on Accern’s scale. Accern also gave media coverage about the technology company an impact score of 46.112192336722 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news headlines that may have effected Accern’s analysis:
- An Eye on Data: Square Inc (NYSE: SQ) – Alpha Beta Stock (alphabetastock.com)
- Pershing Square Cashes Out of Nike Stake – Wall Street Journal (wsj.com)
- Twitter and Square's Jack Dorsey: Bitcoin Will Be World’s Single Currency (finance.yahoo.com)
- 3 Stocks that Could Have Doubled Your Money (finance.yahoo.com)
- Opinion: Harry Boxer’s four stock charts to watch, including Square’s – MarketWatch (marketwatch.com)
A number of research firms recently commented on SQ. Vetr cut shares of Square from a “buy” rating to a “hold” rating and set a $58.05 target price for the company. in a research note on Tuesday. BTIG Research cut shares of Square from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $12.38 to $30.00 in a research note on Monday, November 27th. Credit Suisse Group lifted their target price on shares of Square from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Craig Hallum reiterated a “hold” rating and issued a $41.00 target price (up from $33.00) on shares of Square in a research note on Wednesday, February 28th. Finally, SunTrust Banks lifted their price objective on shares of Square to $42.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $42.73.
Square (NYSE:SQ) last issued its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The company had revenue of $616.04 million during the quarter, compared to analyst estimates of $601.63 million. Square had a negative net margin of 2.84% and a negative return on equity of 6.60%. analysts forecast that Square will post 0.02 earnings per share for the current fiscal year.
In related news, insider Ajmere Dale sold 1,451 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the completion of the sale, the insider now owns 109,586 shares of the company’s stock, valued at approximately $4,383,440. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Hillary B. Smith sold 1,551 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $35.12, for a total transaction of $54,471.12. Following the completion of the sale, the insider now directly owns 487,482 shares of the company’s stock, valued at approximately $17,120,367.84. The disclosure for this sale can be found here. In the last three months, insiders sold 1,321,457 shares of company stock valued at $60,422,201. 32.68% of the stock is owned by insiders.
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Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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