Square, Inc. (SQ) Coverage Initiated at Wells Fargo & Company
Wells Fargo & Company started coverage on shares of Square, Inc. (NYSE:SQ) in a research note issued to investors on Tuesday. The firm set a “market perform” rating on the technology company’s stock.
A number of other equities analysts have also recently issued reports on SQ. Deutsche Bank AG upped their target price on Square to $28.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $24.00 target price on shares of Square in a report on Wednesday, July 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $29.00 target price (up previously from $23.00) on shares of Square in a report on Sunday, July 30th. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada upped their target price on Square from $24.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Fifteen research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.18.
Square (SQ) opened at $45.21 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81. Square has a fifty-two week low of $12.08 and a fifty-two week high of $46.06.
Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The company had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. During the same quarter in the previous year, the firm earned $0.01 EPS. Square’s revenue was up 44.6% on a year-over-year basis. sell-side analysts predict that Square will post -0.16 earnings per share for the current fiscal year.
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In other news, CFO Sarah Friar sold 19,200 shares of the stock in a transaction that occurred 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 directly owns 366,103 shares of the company’s stock, valued at $9,350,270.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $13,811,019.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,394,791 shares of company stock worth $45,611,401. Corporate insiders own 32.68% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Almanack Investment Partners LLC. purchased a new stake in shares of Square in the second quarter worth approximately $117,000. Hudock Capital Group LLC purchased a new stake in shares of Square in the third quarter worth approximately $157,000. Riverhead Capital Management LLC purchased a new stake in shares of Square in the second quarter worth approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Square by 19.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Square in the third quarter worth approximately $205,000. 53.64% of the stock is owned by hedge funds and other 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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