Square Inc. (SQ) Receives New Coverage from Analysts at Keefe, Bruyette & Woods
SQ has been the topic of several other research reports. Jefferies Group reissued a buy rating and issued a $15.00 price target on shares of Square in a report on Wednesday, September 28th. Vetr lowered shares of Square from a strong-buy rating to a buy rating and set a $12.28 target price on the stock. in a report on Monday. Stifel Nicolaus raised shares of Square from a hold rating to a buy rating and upped their target price for the stock from $8.06 to $15.00 in a report on Monday, August 22nd. BTIG Research lowered shares of Square from a buy rating to a neutral rating and lowered their target price for the stock from $15.91 to $12.00 in a report on Monday, August 29th. Finally, Craig Hallum began coverage on shares of Square in a report on Wednesday, June 15th. They issued a hold rating and a $7.50 target price on the stock. Fourteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $12.76.
Square (NYSE:SQ) traded down 1.82% during mid-day trading on Thursday, hitting $11.31. 921,920 shares of the company’s stock were exchanged. Square has a 52 week low of $8.06 and a 52 week high of $15.91. The firm has a 50 day moving average of $11.76 and a 200 day moving average of $11.28. The stock’s market capitalization is $3.87 billion.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The firm had revenue of $439 million for the quarter, compared to analyst estimates of $406.93 million. Square had a negative net margin of 14.85% and a negative return on equity of 37.14%. The business’s revenue for the quarter was up 54.1% compared to the same quarter last year. Equities analysts forecast that Square will post ($0.60) earnings per share for the current fiscal year.
In other news, CFO Sarah Friar sold 2,690 shares of Square stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total transaction of $26,281.30. Following the completion of the sale, the chief financial officer now owns 114,402 shares of the company’s stock, valued at $1,117,707.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dana Wagner sold 6,953 shares of Square stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total value of $67,930.81. Following the sale, the insider now directly owns 271,315 shares of the company’s stock, valued at approximately $2,650,747.55. The disclosure for this sale can be found here. Company insiders own 42.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. Westwood Management Corp IL purchased a new stake in Square during the second quarter worth $362,000. Bollard Group LLC purchased a new stake in Square during the second quarter worth $1,810,000. Creative Planning increased its stake in Square by 76.2% in the second quarter. Creative Planning now owns 14,719 shares of the company’s stock worth $133,000 after buying an additional 6,365 shares in the last quarter. Westend Capital Management LLC purchased a new stake in Square during the first quarter worth $1,355,000. Finally, A.R.T. Advisors LLC purchased a new stake in Square during the first quarter worth $4,052,000. 16.89% of the stock is owned by institutional investors.
Square Company Profile
Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.
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