FY2017 EPS Estimates for Square, Inc. Lifted by Analyst (NYSE:SQ)
Square, Inc. (NYSE:SQ) – Stock analysts at William Blair lifted their FY2017 earnings per share (EPS) estimates for shares of Square in a research report issued to clients and investors on Thursday. William Blair analyst R. Napoli now expects that the technology company will post earnings of ($0.16) per share for the year, up from their previous forecast of ($0.19). William Blair also issued estimates for Square’s Q4 2017 earnings at ($0.04) EPS and FY2018 earnings at ($0.03) EPS.
SQ has been the subject of several other research reports. Vetr upgraded Square from a “buy” rating to a “strong-buy” rating and set a $26.28 price objective for the company in a research report on Monday, July 10th. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, August 1st. Citigroup Inc. lifted their price objective on Square from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 6th. Deutsche Bank AG lifted their price objective on Square from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $24.00 price objective on shares of Square in a research report on Wednesday, July 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $24.61.
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Square (NYSE:SQ) opened at 25.21 on Monday. Square has a 1-year low of $10.85 and a 1-year high of $27.97. The stock has a 50 day moving average price of $24.96 and a 200 day moving average price of $19.56. The company’s market cap is $9.49 billion.
Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $240 million during the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter in the prior year, the business posted ($0.08) earnings per share. The company’s revenue for the quarter was up 40.4% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Columbus Circle Investors boosted its position in Square by 0.8% in the first quarter. Columbus Circle Investors now owns 1,944,440 shares of the technology company’s stock worth $33,600,000 after buying an additional 14,691 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Square during the first quarter worth about $301,000. Boston Advisors LLC boosted its position in Square by 112.7% in the first quarter. Boston Advisors LLC now owns 774,365 shares of the technology company’s stock worth $13,381,000 after buying an additional 410,231 shares during the last quarter. Cullinan Associates Inc. boosted its position in Square by 264.6% in the first quarter. Cullinan Associates Inc. now owns 82,400 shares of the technology company’s stock worth $1,424,000 after buying an additional 59,800 shares during the last quarter. Finally, Howard Capital Management acquired a new position in Square during the first quarter worth about $518,000. 76.25% of the stock is owned by hedge funds and other institutional investors.
In other Square news, Director James Morgan Jr. Mckelvey sold 90,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $23.36, for a total value of $2,102,400.00. Following the completion of the transaction, the director now directly owns 186,308 shares of the company’s stock, valued at $4,352,154.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sarah Friar sold 19,200 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $26.25, for a total value of $504,000.00. Following the completion of the transaction, the chief financial officer now directly owns 368,791 shares of the company’s stock, valued at $9,680,763.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 914,900 shares of company stock valued at $20,202,610. 32.68% of the stock is owned by insiders.
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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