Square, Inc. (SQ) Earns Market Perform Rating from Analysts at Wells Fargo & Company
Wells Fargo & Company initiated coverage on shares of Square, Inc. (NYSE:SQ) in a research note released on Tuesday, MarketBeat.com reports. The firm issued a market perform rating and a $42.00 price objective on the technology company’s stock.
Several other research analysts also recently issued reports on SQ. Deutsche Bank AG upped their price target on shares of Square to $28.00 and gave the stock a buy rating in a research report on Monday, July 24th. Piper Jaffray Companies restated a hold rating and set a $24.00 target price on shares of Square in a research report on Wednesday, July 26th. Stifel Nicolaus restated a buy rating and set a $29.00 target price (up from $23.00) on shares of Square in a research report on Sunday, July 30th. Zacks Investment Research upgraded shares of Square from a hold rating to a buy rating and set a $30.00 target price on the stock in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada upped their target price on shares of Square from $24.00 to $31.00 and gave the company an outperform rating in a research report on Thursday, August 3rd. Fourteen analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Square has a consensus rating of Buy and a consensus target price of $33.61.
Square (NYSE:SQ) opened at $48.81 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81. Square has a 52-week low of $12.32 and a 52-week high of $49.55.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business had revenue of $257.12 million for the quarter, compared to the consensus estimate of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The firm’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. sell-side analysts forecast that Square will post -0.16 earnings per share for the current year.
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In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $39.15, for a total transaction of $15,660,000.00. Following the completion of the sale, the director now directly owns 507,732 shares of the company’s stock, valued at approximately $19,877,707.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ajmere Dale sold 20,286 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $39.12, for a total value of $793,588.32. Following the sale, the insider now directly owns 134,518 shares of the company’s stock, valued at $5,262,344.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,337,191 shares of company stock valued at $44,138,761. 32.68% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC increased its stake in Square by 5,187.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 540,000 shares of the technology company’s stock worth $15,557,000 after purchasing an additional 529,788 shares in the last quarter. California Public Employees Retirement System increased its stake in Square by 4.1% during the 3rd quarter. California Public Employees Retirement System now owns 368,151 shares of the technology company’s stock worth $10,606,000 after purchasing an additional 14,451 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Square by 256.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 59,112 shares of the technology company’s stock worth $1,701,000 after purchasing an additional 42,506 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in Square during the 3rd quarter worth approximately $44,337,000. Finally, Janus Henderson Group PLC bought a new stake in Square during the 3rd quarter worth approximately $5,039,000. 53.64% of the stock is owned by institutional investors and hedge funds.
Square Company Profile
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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