Analysts Set Expectations for Square, Inc.’s Q3 2018 Earnings (NYSE:SQ)
Square, Inc. (NYSE:SQ) – Investment analysts at Wedbush issued their Q3 2018 earnings per share estimates for Square in a research note issued to investors on Wednesday. Wedbush analyst M. Katri anticipates that the technology company will earn ($0.01) per share for the quarter. Wedbush has a “Neutral” rating and a $28.00 price objective on the stock. Wedbush also issued estimates for Square’s FY2018 earnings at ($0.04) EPS.
Several other brokerages also recently weighed in on SQ. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $19.66 price target for the company. in a report on Thursday, April 20th. Royal Bank Of Canada cut their price target on Square to $18.00 and set a “buy” rating for the company in a report on Monday, April 24th. Deutsche Bank AG reiterated a “buy” rating and issued a $19.00 price target on shares of Square in a report on Monday, April 24th. Zacks Investment Research downgraded Square from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 25th. Finally, Guggenheim downgraded Square from a “buy” rating to a “neutral” rating and boosted their price target for the company from $19.00 to $20.00 in a report on Thursday, May 4th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $24.61.
Shares of Square (NYSE SQ) opened at 25.21 on Monday. The firm’s market cap is $9.49 billion. Square has a 12-month low of $10.85 and a 12-month high of $27.97. The company has a 50 day moving average price of $24.96 and a 200 day moving average price of $19.56.
Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The firm had revenue of $240 million during the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The business’s revenue for the quarter was up 40.4% on a year-over-year basis.
In related news, CEO Jack Dorsey sold 381,500 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $20.42, for a total value of $7,790,230.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sarah Friar sold 38,400 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $22.09, for a total value of $848,256.00. Following the completion of the sale, the chief financial officer now owns 375,023 shares of the company’s stock, valued at $8,284,258.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 914,900 shares of company stock valued at $20,202,610. 32.68% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in SQ. Pacer Advisors Inc. boosted its position in Square by 22.7% in the first quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock worth $102,000 after buying an additional 1,090 shares during the last quarter. Glassman Wealth Services boosted its position in Square by 1,987.3% in the first quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock worth $114,000 after buying an additional 6,260 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in Square during the first quarter worth $131,000. Concert Wealth Management Inc. purchased a new position in Square during the first quarter worth $144,000. Finally, FNY Partners Fund LP boosted its position in Square by 55.4% in the first quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock worth $174,000 after buying an additional 3,600 shares during the last quarter. Hedge funds and other institutional investors own 76.25% 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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