Somewhat Favorable News Coverage Somewhat Unlikely to Affect Square (SQ) Share Price
Headlines about Square (NYSE:SQ) have trended somewhat positive on Friday, Accern Sentiment reports. Accern identifies positive and negative press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Square earned a news sentiment score of 0.23 on Accern’s scale. Accern also gave media coverage about the technology company an impact score of 45.2931228548922 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the headlines that may have impacted Accern’s scoring:
- How Square, Inc. Makes Most of Its Money (fool.com)
- Square Inc (SQ) Shares Spotted Above Chikou Line – MTNV (mtnvnews.com)
- Better Buy: PayPal Holdings, Inc. vs. Square — The Motley Fool – Motley Fool (fool.com)
- Accurate Background Experiences Tremendous Growth, Leading to Expansion of Office Space and Listing on the 2017 Inc. 5000 (advfn.com)
- Square, Inc. (SQ) is at $25.76 per share and Stamps.com Inc. (STMP) is listed at $195.45 – Stocks Gallery (stocksgallery.com)
Shares of Square (NYSE SQ) traded down 0.69% on Friday, hitting $25.93. 3,257,335 shares of the stock were exchanged. The firm’s 50-day moving average is $25.74 and its 200-day moving average is $21.22. Square has a one year low of $10.88 and a one year high of $27.97. The company’s market cap is $9.95 billion. Square also was the target of some unusual options trading activity on Thursday. Stock traders purchased 17,969 call options on the company. This represents an increase of approximately 286% compared to the average volume of 4,651 call options.
Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The business had revenue of $240 million for the quarter, compared to analyst estimates of $228.64 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The firm’s revenue was up 40.4% compared to the same quarter last year. On average, equities analysts forecast that Square will post $0.24 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. BTIG Research reiterated a “buy” rating and set a $20.00 target price on shares of Square in a research note on Friday, May 5th. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, August 1st. Mizuho assumed coverage on shares of Square in a research note on Wednesday, June 28th. They set a “buy” rating and a $28.00 target price for the company. Jefferies Group LLC reiterated a “buy” rating and set a $28.00 target price on shares of Square in a research note on Thursday, July 6th. Finally, Credit Suisse Group increased their target price on shares of Square from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Eleven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $24.61.
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In other Square news, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $24.22, for a total value of $930,048.00. Following the transaction, the chief financial officer now owns 375,023 shares in the company, valued at approximately $9,083,057.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the completion of the transaction, the director now owns 507,385 shares in the company, valued at approximately $12,694,772.70. The disclosure for this sale can be found here. Insiders have sold 643,600 shares of company stock worth $16,030,464 in the last 90 days. 32.68% of the stock is owned by company insiders.
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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