Square, Inc. (NYSE:SQ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Square provides payments and point-of-sale (POS) services.  Year to date, the stock has outperformed the Zacks Internet-Software industry. Square’s comprehensive commerce ecosystem, accelerated business growth and focus on integration, automation, and platform are positives. However, it’s currently a loss making business and vulnerability to intense competition and changing technology, industry standards and seller and buyer needs pose challenges.”

A number of other research firms also recently issued reports on SQ. KeyCorp reaffirmed an “overweight” rating on shares of Square in a research note on Tuesday. Vetr raised shares of Square from a “buy” rating to a “strong-buy” rating and set a $26.28 price target on the stock in a research note on Monday, July 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $19.50 price target on shares of Square in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Square in a research note on Thursday, July 6th. Finally, Citigroup Inc. upped their price target on shares of Square from $23.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $20.86.

Square (NYSE:SQ) traded up 1.15% on Tuesday, reaching $26.49. 2,941,209 shares of the company traded hands. The stock’s 50-day moving average is $22.69 and its 200-day moving average is $17.72. The stock’s market capitalization is $9.91 billion. Square has a 1-year low of $9.10 and a 1-year high of $26.79.

Square (NYSE:SQ) last issued its earnings results on Wednesday, May 3rd. The technology company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.05. Square had a negative net margin of 5.02% and a negative return on equity of 15.81%. The firm had revenue of $461.55 million during the quarter, compared to analyst estimates of $450.66 million. Equities research analysts expect that Square will post ($0.19) EPS for the current year.

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In other Square news, insider Alyssa Henry sold 5,406 shares of the stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $18.23, for a total transaction of $98,551.38. Following the transaction, the insider now directly owns 475,238 shares in the company, valued at approximately $8,663,588.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sarah Friar sold 38,400 shares of the stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $24.22, for a total transaction of $930,048.00. Following the transaction, the chief financial officer now owns 375,023 shares in the company, valued at $9,083,057.06. The disclosure for this sale can be found here. Insiders sold a total of 1,296,238 shares of company stock worth $26,804,924 in the last ninety days. 32.68% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SQ. Cambridge Investment Research Advisors Inc. boosted its position in shares of Square by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock valued at $175,000 after buying an additional 30 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Square by 1.8% in the first quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock valued at $461,000 after buying an additional 473 shares during the last quarter. First Mercantile Trust Co. boosted its position in shares of Square by 2.2% in the first quarter. First Mercantile Trust Co. now owns 31,641 shares of the technology company’s stock valued at $547,000 after buying an additional 690 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Square by 4.0% in the fourth quarter. Guggenheim Capital LLC now owns 18,680 shares of the technology company’s stock valued at $255,000 after buying an additional 727 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Square by 5.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 19,810 shares of the technology company’s stock valued at $270,000 after buying an additional 1,070 shares during the last quarter. Institutional investors own 76.60% of the company’s stock.

Square Company Profile

Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.

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Analyst Recommendations for Square (NYSE:SQ)

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