Brokers Set Expectations for Square, Inc.’s Q2 2020 Earnings (NYSE:SQ)

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Square, Inc. (NYSE:SQ) – Stock analysts at Piper Sandler issued their Q2 2020 EPS estimates for Square in a research report issued on Monday, July 6th. Piper Sandler analyst C. Donat forecasts that the technology company will post earnings per share of ($0.13) for the quarter. Piper Sandler currently has a “Neutral” rating and a $131.00 price target on the stock. Piper Sandler also issued estimates for Square’s Q3 2020 earnings at ($0.08) EPS, Q4 2020 earnings at ($0.02) EPS, FY2020 earnings at ($0.43) EPS, Q1 2021 earnings at ($0.10) EPS, Q2 2021 earnings at $0.14 EPS, Q4 2021 earnings at $0.12 EPS, FY2021 earnings at $0.29 EPS, Q1 2022 earnings at $0.02 EPS, Q2 2022 earnings at $0.28 EPS and FY2022 earnings at $0.82 EPS.

Square (NYSE:SQ) last released its earnings results on Wednesday, May 6th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). Square had a net margin of 5.99% and a return on equity of 0.44%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The business’s revenue for the quarter was up 44.0% on a year-over-year basis.

Other research analysts also recently issued reports about the stock. Susquehanna Bancshares upped their target price on shares of Square from $70.00 to $85.00 in a research report on Thursday, May 7th. Bank of America cut Square from a “neutral” rating to an “underperform” rating and set a $84.00 price target for the company. in a research note on Monday, May 18th. Nomura reaffirmed a “hold” rating and issued a $49.00 price target on shares of Square in a research note on Thursday, May 7th. JMP Securities initiated coverage on Square in a research note on Tuesday, June 30th. They issued a “market perform” rating for the company. Finally, Argus upped their price target on Square from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $81.38.

Square stock opened at $128.05 on Thursday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.17. Square has a 1 year low of $32.33 and a 1 year high of $133.81. The company has a market cap of $58.59 billion, a PE ratio of 203.26 and a beta of 2.69. The company’s 50-day moving average is $96.35 and its two-hundred day moving average is $74.19.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors grew its position in shares of Square by 86.1% during the 4th quarter. Capital World Investors now owns 17,798,895 shares of the technology company’s stock worth $1,113,499,000 after purchasing an additional 8,237,229 shares in the last quarter. Sands Capital Management LLC acquired a new position in shares of Square during the 1st quarter worth approximately $298,358,000. Norges Bank acquired a new position in shares of Square during the 4th quarter worth approximately $228,755,000. Massachusetts Financial Services Co. MA grew its position in shares of Square by 44.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,942,296 shares of the technology company’s stock worth $258,877,000 after purchasing an additional 1,520,028 shares in the last quarter. Finally, HMI Capital LLC acquired a new position in shares of Square during the 4th quarter worth approximately $85,568,000. Institutional investors and hedge funds own 62.71% of the company’s stock.

In related news, CAO Ajmere Dale sold 2,000 shares of the company’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the transaction, the chief accounting officer now owns 49,315 shares in the company, valued at approximately $4,931,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sivan Whiteley sold 3,560 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $62.68, for a total transaction of $223,140.80. Following the completion of the transaction, the insider now owns 154,706 shares in the company, valued at approximately $9,696,972.08. The disclosure for this sale can be found here. Insiders have sold a total of 48,574 shares of company stock worth $3,473,975 over the last 90 days. 21.79% of the stock is owned by company insiders.

Square Company Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.

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Earnings History and Estimates for Square (NYSE:SQ)

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