Square, Inc. (SQ) Rating Reiterated by Craig Hallum
Square, Inc. (NYSE:SQ)‘s stock had its “hold” rating reaffirmed by equities researchers at Craig Hallum in a note issued to investors on Thursday. They currently have a $33.00 price objective on the technology company’s stock, up from their previous price objective of $23.00. Craig Hallum’s price objective points to a potential downside of 15.84% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Credit Suisse Group upped their price target 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. Barclays PLC restated an “overweight” rating and set a $28.00 target price (up previously from $21.00) on shares of Square in a research note on Thursday, August 3rd. Citigroup Inc. cut shares of Square from a “buy” rating to a “neutral” rating and set a $38.00 target price on the stock. in a research note on Thursday. Cantor Fitzgerald upped their target price on shares of Square to $41.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wedbush assumed coverage on shares of Square in a research note on Thursday, August 3rd. They set a “neutral” rating and a $28.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.67.
Square (NYSE:SQ) opened at $39.21 on Thursday. Square has a one year low of $11.43 and a one year high of $39.73. The company has a quick ratio of 2.30, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $257.12 million for the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. Square’s revenue was up 44.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. sell-side analysts forecast that Square will post -0.16 EPS for the current year.
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In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $32.72, for a total value of $13,088,000.00. Following the sale, the director now owns 507,732 shares in the company, valued at $16,612,991.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sarah Friar sold 19,200 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $25.54, for a total value of $490,368.00. Following the completion of the sale, the chief financial officer now owns 366,103 shares in the company, valued at approximately $9,350,270.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,353,600 shares of company stock worth $38,351,040. Insiders own 32.68% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Makena Capital Management LLC purchased a new stake in Square in the second quarter worth $4,561,000. California Public Employees Retirement System increased its stake in shares of Square by 10.3% during the second quarter. California Public Employees Retirement System now owns 353,700 shares of the technology company’s stock valued at $8,298,000 after buying an additional 33,100 shares during the period. Royce & Associates LP increased its stake in shares of Square by 55.6% during the second quarter. Royce & Associates LP now owns 235,000 shares of the technology company’s stock valued at $5,513,000 after buying an additional 84,000 shares during the period. California State Teachers Retirement System increased its stake in shares of Square by 285.7% during the second quarter. California State Teachers Retirement System now owns 395,757 shares of the technology company’s stock valued at $9,284,000 after buying an additional 293,137 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Square by 2.9% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,190,200 shares of the technology company’s stock valued at $74,842,000 after buying an additional 90,200 shares during the period. Institutional investors and hedge funds own 53.91% of the company’s stock.
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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