Square (SQ) Stock Rating Lowered by Stephens

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Square (NYSE:SQ) was downgraded by equities research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

Several other analysts have also issued reports on the company. Nomura upped their target price on Square from $65.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. KeyCorp reiterated an “overweight” rating and set a $70.00 target price (up previously from $55.00) on shares of Square in a report on Tuesday, June 19th. Raymond James assumed coverage on Square in a report on Friday, June 15th. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Wells Fargo & Co upped their target price on Square from $42.00 to $60.00 and gave the stock an “underperform” rating in a report on Thursday, June 14th. Finally, Buckingham Research lowered Square from a “buy” rating to a “neutral” rating and upped their target price for the stock from $55.00 to $65.00 in a report on Wednesday, June 13th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $49.54.

Shares of Square opened at $60.09 on Tuesday, Marketbeat Ratings reports. The stock has a market capitalization of $24.80 billion, a PE ratio of -600.90 and a beta of 4.32. Square has a one year low of $22.66 and a one year high of $69.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 1.76.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $307.00 million for the quarter, compared to analyst estimates of $293.07 million. Square had a negative return on equity of 7.03% and a negative net margin of 2.96%. The company’s quarterly revenue was up 50.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 earnings per share. analysts predict that Square will post 0.01 earnings per share for the current fiscal year.

In other news, insider Jacqueline D. Reses sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $47.76, for a total value of $716,400.00. Following the transaction, the insider now owns 589,283 shares of the company’s stock, valued at $28,144,156.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $61.56, for a total value of $24,624,000.00. Following the completion of the transaction, the director now directly owns 468,223 shares in the company, valued at approximately $28,823,807.88. The disclosure for this sale can be found here. Insiders sold 1,250,315 shares of company stock worth $68,079,756 in the last ninety days. 27.99% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its position in Square by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 400,433 shares of the technology company’s stock worth $13,883,000 after buying an additional 8,626 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Square by 145.8% during the first quarter. Oppenheimer & Co. Inc. now owns 64,183 shares of the technology company’s stock worth $3,158,000 after buying an additional 38,069 shares in the last quarter. Sciencast Management LP acquired a new stake in Square during the fourth quarter worth approximately $547,000. AMP Capital Investors Ltd acquired a new stake in Square during the fourth quarter worth approximately $2,244,000. Finally, Macquarie Group Ltd. grew its position in Square by 167.2% during the fourth quarter. Macquarie Group Ltd. now owns 536,158 shares of the technology company’s stock worth $18,589,000 after buying an additional 335,505 shares in the last quarter. 52.14% of the stock is currently owned by institutional investors and hedge funds.

About Square

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.

Analyst Recommendations for Square (NYSE:SQ)

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