Buckingham Research Downgrades Square (SQ) to Neutral


Square (NYSE:SQ) was downgraded by Buckingham Research from a “buy” rating to a “neutral” rating in a report issued on Wednesday, The Fly reports. The analysts noted that the move was a valuation call.

Several other research analysts also recently commented on SQ. Needham & Company LLC boosted their price objective on shares of Square from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, June 1st. Stifel Nicolaus upped their price target on shares of Square from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, June 4th. ValuEngine upgraded shares of Square from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. BTIG Research reiterated a “sell” rating and set a $30.00 price target on shares of Square in a report on Thursday, May 3rd. Finally, Canaccord Genuity upped their price target on shares of Square from $33.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $47.69.


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Shares of Square opened at $63.21 on Wednesday, according to MarketBeat. Square has a one year low of $22.45 and a one year high of $64.08. The company has a market cap of $24.56 billion, a price-to-earnings ratio of -632.10 and a beta of 4.32. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.76.

Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The business had revenue of $307.00 million during the quarter, compared to the consensus estimate of $293.07 million. During the same period in the previous year, the business earned $0.05 earnings per share. The company’s revenue was up 50.5% on a year-over-year basis. sell-side analysts anticipate that Square will post 0.01 earnings per share for the current fiscal year.


In other Square news, insider Hillary B. Smith sold 21,383 shares of the company’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $54.17, for a total transaction of $1,158,317.11. Following the sale, the insider now owns 469,814 shares of the company’s stock, valued at $25,449,824.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $46.90, for a total transaction of $18,760,000.00. Following the sale, the director now directly owns 468,223 shares in the company, valued at approximately $21,959,658.70. The disclosure for this sale can be found here. Insiders sold 910,898 shares of company stock valued at $46,576,817 over the last 90 days. 27.99% of the stock is currently owned by company insiders.


A number of institutional investors and hedge funds have recently modified their holdings of SQ. Schwab Charles Investment Management Inc. boosted its position in shares of Square by 11.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 778,123 shares of the technology company’s stock worth $26,978,000 after purchasing an additional 82,116 shares in the last quarter. Strs Ohio bought a new position in shares of Square during the 4th quarter worth about $110,000. Aperio Group LLC boosted its position in shares of Square by 23.0% during the 4th quarter. Aperio Group LLC now owns 14,809 shares of the technology company’s stock worth $513,000 after purchasing an additional 2,768 shares in the last quarter. US Bancorp DE boosted its position in shares of Square by 20.2% during the 4th quarter. US Bancorp DE now owns 10,251 shares of the technology company’s stock worth $355,000 after purchasing an additional 1,724 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Square by 270.2% during the 4th quarter. Teacher Retirement System of Texas now owns 66,794 shares of the technology company’s stock worth $2,316,000 after purchasing an additional 48,752 shares in the last quarter. 51.92% of the stock is currently owned by institutional investors and hedge funds.


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庐 chip cards and Near Field Communication payments; Chip card reader, which accepts EMV庐 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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Analyst Recommendations for Square (NYSE:SQ)

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