Craig Hallum upgraded shares of Square (NYSE:SQ) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. Craig Hallum currently has $63.00 target price on the technology company’s stock, up from their previous target price of $55.00.
SQ has been the topic of a number of other research reports. Canaccord Genuity lowered shares of Square from a buy rating to a hold rating and cut their price target for the stock from $88.00 to $64.00 in a report on Thursday, September 12th. SunTrust Banks upgraded shares of Square from a hold rating to a buy rating in a report on Tuesday, September 3rd. Moffett Nathanson upgraded shares of Square from a neutral rating to a buy rating in a report on Tuesday, September 3rd. Cantor Fitzgerald reiterated an overweight rating on shares of Square in a report on Monday, August 5th. Finally, ValuEngine lowered shares of Square from a buy rating to a hold rating in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eighteen have given a buy rating to the company. Square currently has a consensus rating of Hold and a consensus price target of $79.91.
Shares of Square stock opened at $57.85 on Wednesday. Square has a fifty-two week low of $49.82 and a fifty-two week high of $101.15. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $24.71 billion, a P/E ratio of 2,892.50, a P/E/G ratio of 20.26 and a beta of 3.41. The company’s 50 day moving average price is $62.86 and its two-hundred day moving average price is $70.26.
Square (NYSE:SQ) last issued its earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.20. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The firm had revenue of $563.00 million for the quarter, compared to analyst estimates of $557.67 million. During the same quarter last year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 46.2% on a year-over-year basis. On average, analysts expect that Square will post 0.12 earnings per share for the current year.
In other Square news, insider Jacqueline D. Reses sold 5,000 shares of Square stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.83, for a total value of $409,150.00. Following the completion of the sale, the insider now directly owns 373,984 shares of the company’s stock, valued at $30,603,110.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $77.69, for a total transaction of $1,553,800.00. Following the completion of the sale, the insider now directly owns 449,261 shares of the company’s stock, valued at $34,903,087.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,001 shares of company stock worth $5,295,829. 21.79% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of SQ. Enterprise Trust & Investment Co bought a new stake in Square in the second quarter valued at $25,000. Larson Financial Group LLC increased its stake in Square by 130.7% in the second quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock valued at $27,000 after purchasing an additional 213 shares in the last quarter. Berman Capital Advisors LLC increased its stake in Square by 190.2% in the first quarter. Berman Capital Advisors LLC now owns 473 shares of the technology company’s stock valued at $35,000 after purchasing an additional 310 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Square by 78.4% in the second quarter. Benjamin Edwards Inc. now owns 512 shares of the technology company’s stock valued at $37,000 after purchasing an additional 225 shares in the last quarter. Finally, Atlantic Trust LLC increased its stake in Square by 38.9% in the second quarter. Atlantic Trust LLC now owns 521 shares of the technology company’s stock valued at $38,000 after purchasing an additional 146 shares in the last quarter. 55.71% of the stock is owned by hedge funds and other institutional investors.
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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