Square Inc (SQ) Stock Rating Reaffirmed by Mizuho
Square Inc (NYSE:SQ)‘s stock had its “buy” rating reiterated by analysts at Mizuho in a note issued to investors on Monday.
Other research analysts have also issued research reports about the stock. Vetr lowered shares of Square from a “strong-buy” rating to a “buy” rating and set a $16.63 price target on the stock. in a research report on Monday, January 9th. Nomura began coverage on shares of Square in a research report on Tuesday, December 20th. They issued a “buy” rating and a $18.00 price target on the stock. Guggenheim began coverage on shares of Square in a research report on Monday, December 19th. They issued a “buy” rating and a $16.00 price target on the stock. Goldman Sachs Group Inc lifted their price target on shares of Square from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Finally, Royal Bank of Canada lifted their price target on shares of Square from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $16.55.
Shares of Square (NYSE:SQ) traded down 0.23% on Monday, hitting $17.24. The company had a trading volume of 4,596,089 shares. The company’s market cap is $6.33 billion. The company has a 50 day moving average of $15.74 and a 200-day moving average of $13.43. Square has a 12-month low of $8.42 and a 12-month high of $18.17.
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Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.05. The firm had revenue of $191.90 million for the quarter, compared to analyst estimates of $450.40 million. Square had a negative net margin of 12.55% and a negative return on equity of 31.99%. The firm’s quarterly revenue was up 42.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) earnings per share. On average, analysts forecast that Square will post ($0.24) earnings per share for the current year.
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In other Square news, major shareholder Ventures Iii L.P. Khosla sold 1,000,000 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $17.30, for a total transaction of $17,300,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alyssa Henry sold 5,905 shares of the business’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $14.50, for a total transaction of $85,622.50. Following the transaction, the insider now directly owns 215,313 shares of the company’s stock, valued at approximately $3,122,038.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,911,262 shares of company stock valued at $45,110,215. 42.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Square by 848.3% in the fourth quarter. FMR LLC now owns 8,940,999 shares of the company’s stock worth $121,866,000 after buying an additional 7,998,199 shares in the last quarter. Capital World Investors raised its position in shares of Square by 131.4% in the third quarter. Capital World Investors now owns 10,813,575 shares of the company’s stock worth $126,086,000 after buying an additional 6,140,745 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Square during the third quarter worth approximately $62,843,000. Allianz Asset Management AG raised its position in shares of Square by 239.0% in the fourth quarter. Allianz Asset Management AG now owns 7,483,558 shares of the company’s stock worth $102,001,000 after buying an additional 5,276,308 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Square by 3,618.0% in the third quarter. Bank of New York Mellon Corp now owns 3,891,838 shares of the company’s stock worth $45,379,000 after buying an additional 3,787,163 shares in the last quarter. 24.28% of the stock is owned by hedge funds and other 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.
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