Square (SQ) Coverage Initiated at BTIG Research

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BTIG Research initiated coverage on shares of Square (NYSE:SQ) in a research report issued on Thursday, The Fly reports. The firm set a “sell” rating on the technology company’s stock.

Several other analysts also recently issued reports on SQ. KeyCorp reiterated an “overweight” rating and set a $115.00 price target (up previously from $75.00) on shares of Square in a research note on Tuesday, October 2nd. ValuEngine upgraded Square from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Jefferies Financial Group upped their price target on Square to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Buckingham Research upped their price target on Square from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Finally, BMO Capital Markets assumed coverage on Square in a research note on Wednesday, September 26th. They set a “market perform” rating and a $96.00 price target for the company. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $70.82.

Shares of NYSE SQ opened at $73.97 on Thursday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.99. Square has a one year low of $31.44 and a one year high of $101.15. The stock has a market capitalization of $40.64 billion, a price-to-earnings ratio of -739.70 and a beta of 4.33.

Square (NYSE:SQ) last issued its earnings results on Wednesday, August 1st. The technology company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.14. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. The firm had revenue of $385.00 million for the quarter, compared to the consensus estimate of $367.99 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The business’s quarterly revenue was up 60.4% compared to the same quarter last year. On average, equities research analysts anticipate that Square will post -0.04 EPS for the current fiscal year.

In other Square news, insider Sivan Whiteley sold 1,875 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $69.84, for a total value of $130,950.00. Following the completion of the transaction, the insider now owns 526,299 shares of the company’s stock, valued at approximately $36,756,722.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ajmere Dale sold 4,096 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $89.99, for a total value of $368,599.04. Following the completion of the transaction, the insider now directly owns 93,255 shares of the company’s stock, valued at approximately $8,392,017.45. The disclosure for this sale can be found here. Insiders have sold a total of 1,888,510 shares of company stock valued at $156,182,876 in the last three months. 27.99% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Centaurus Financial Inc. bought a new stake in shares of Square in the 2nd quarter valued at approximately $100,000. Huntington National Bank grew its stake in shares of Square by 1,725.0% in the 2nd quarter. Huntington National Bank now owns 1,825 shares of the technology company’s stock valued at $112,000 after purchasing an additional 1,725 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Square by 1,476.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock valued at $114,000 after purchasing an additional 2,170 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of Square by 649.8% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,317 shares of the technology company’s stock valued at $143,000 after purchasing an additional 2,008 shares during the period. Finally, Thompson Davis & CO. Inc. grew its stake in shares of Square by 736.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,510 shares of the technology company’s stock valued at $155,000 after purchasing an additional 2,210 shares during the period. 51.86% 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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