Pacific Crest Reaffirms “Hold” Rating for Square Inc. (SQ)
Square Inc. (NYSE:SQ)‘s stock had its “hold” rating reiterated by investment analysts at Pacific Crest in a research note issued to investors on Thursday.
Several other equities analysts also recently commented on the company. Keefe, Bruyette & Woods started coverage on Square in a research report on Thursday. They issued a “mkt perform” rating on the stock. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $12.28 price target on the stock. in a research report on Monday. Jefferies Group reissued a “buy” rating and set a $15.00 price target on shares of Square in a research report on Wednesday, September 28th. Finally, Mizuho reissued a “top pick” rating and set a $16.00 price target on shares of Square in a research report on Wednesday, September 14th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $12.76.
Square (NYSE:SQ) traded down 0.78% during trading on Thursday, hitting $11.43. The stock had a trading volume of 1,273,085 shares. The stock’s market capitalization is $3.91 billion. The stock’s 50-day moving average is $11.76 and its 200-day moving average is $11.28. Square has a 52-week low of $8.06 and a 52-week high of $15.91.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/pacific-crest-reaffirms-hold-rating-for-square-inc-sq.html
Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The company had revenue of $439 million for the quarter, compared to the consensus estimate of $406.93 million. Square had a negative return on equity of 37.14% and a negative net margin of 14.85%. The company’s revenue for the quarter was up 54.1% compared to the same quarter last year. On average, analysts predict that Square will post ($0.60) earnings per share for the current fiscal year.
In other Square news, CFO Sarah Friar sold 2,690 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $9.77, for a total value of $26,281.30. Following the sale, the chief financial officer now directly owns 114,402 shares of the company’s stock, valued at $1,117,707.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Francoise Brougher sold 57,692 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $12.00, for a total value of $692,304.00. Following the completion of the sale, the insider now directly owns 164,977 shares in the company, valued at $1,979,724. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of SQ. Schwab Charles Investment Management Inc. raised its stake in shares of Square by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 45,636 shares of the company’s stock valued at $414,000 after buying an additional 1,512 shares during the last quarter. BlackRock Investment Management LLC increased its position in Square by 1.0% in the second quarter. BlackRock Investment Management LLC now owns 211,570 shares of the company’s stock valued at $1,915,000 after buying an additional 2,025 shares during the period. Commonwealth Equity Services Inc increased its position in Square by 30.9% in the second quarter. Commonwealth Equity Services Inc now owns 15,789 shares of the company’s stock valued at $143,000 after buying an additional 3,725 shares during the period. Creative Planning increased its position in Square by 76.2% in the second quarter. Creative Planning now owns 14,719 shares of the company’s stock valued at $133,000 after buying an additional 6,365 shares during the period. Finally, BlackRock Inc. increased its position in Square by 28.0% in the first quarter. BlackRock Inc. now owns 42,526 shares of the company’s stock valued at $649,000 after buying an additional 9,309 shares during the period. 16.89% of the stock is currently owned by institutional investors.
Square Company Profile
Square, Inc enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain.
Receive News & Ratings for Square Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square Inc. and related companies with MarketBeat.com's FREE daily email newsletter.