Square’s (SQ) “Neutral” Rating Reaffirmed at Credit Suisse Group
Credit Suisse Group reaffirmed their neutral rating on shares of Square, Inc. (NYSE:SQ) in a research report sent to investors on Thursday morning. The firm currently has a $31.00 target price on the technology company’s stock, up from their previous target price of $26.00. The analysts noted that the move was a valuation call.
Several other equities research analysts also recently issued reports on SQ. Citigroup Inc. downgraded Square from a buy rating to a neutral rating and set a $38.00 target price on the stock. in a research report on Thursday. Stifel Nicolaus increased their price objective on Square from $36.00 to $37.00 and gave the stock a hold rating in a research report on Thursday. Royal Bank Of Canada reiterated an outperform rating and issued a $31.00 price objective (up previously from $24.00) on shares of Square in a research report on Wednesday, August 9th. Canaccord Genuity increased their price objective on Square from $18.00 to $26.00 and gave the stock a hold rating in a research report on Thursday, August 3rd. Finally, Barclays PLC reiterated an overweight rating and issued a $28.00 price objective (up previously from $21.00) on shares of Square in a research report on Wednesday, August 9th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $31.67.
Square (NYSE SQ) traded up $1.25 during trading hours on Thursday, hitting $39.21. The company’s stock had a trading volume of 19,468,657 shares, compared to its average volume of 7,253,199. Square has a 12-month low of $11.43 and a 12-month high of $39.73. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.50.
Square (NYSE:SQ) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $257.12 million for the quarter, compared to the consensus estimate of $244.95 million. Square had a negative return on equity of 8.28% and a negative net margin of 3.04%. The business’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 earnings per share. analysts predict that Square will post -0.16 earnings per share for the current fiscal year.
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In related news, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $25.58, for a total value of $982,272.00. Following the sale, the chief financial officer now directly owns 366,103 shares of the company’s stock, valued at $9,364,914.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $27.22, for a total value of $10,888,000.00. Following the completion of the sale, the director now directly owns 507,385 shares in the company, valued at $13,811,019.70. The disclosure for this sale can be found here. Insiders have sold 1,353,600 shares of company stock worth $38,351,040 over the last ninety days. Insiders own 32.68% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SQ. UBS Asset Management Americas Inc. grew its stake in shares of Square by 74.7% in the first quarter. UBS Asset Management Americas Inc. now owns 71,660 shares of the technology company’s stock worth $1,238,000 after purchasing an additional 30,652 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Square by 345.1% in the first quarter. Alliancebernstein L.P. now owns 145,142 shares of the technology company’s stock worth $2,508,000 after purchasing an additional 112,530 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Square by 11.6% in the first quarter. Teachers Advisors LLC now owns 256,516 shares of the technology company’s stock worth $4,433,000 after purchasing an additional 26,712 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Square by 2,210.9% in the first quarter. Legal & General Group Plc now owns 28,540 shares of the technology company’s stock worth $493,000 after purchasing an additional 27,305 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Square by 2.3% in the first quarter. Vanguard Group Inc. now owns 10,975,970 shares of the technology company’s stock worth $189,665,000 after purchasing an additional 241,563 shares during the last quarter. 53.91% of the stock is currently owned by institutional investors.
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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