Square Inc (NYSE:SQ) – Equities research analysts at Wedbush increased their FY2018 earnings estimates for Square in a research report issued on Monday. Wedbush analyst M. Katri now anticipates that the technology company will post earnings of $0.01 per share for the year, up from their prior forecast of ($0.01). Wedbush also issued estimates for Square’s Q3 2019 earnings at $0.06 EPS, Q4 2019 earnings at $0.07 EPS and FY2019 earnings at $0.21 EPS.
A number of other equities research analysts have also recently issued reports on SQ. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Monday, September 25th. Tigress Financial reiterated a “buy” rating on shares of Square in a research report on Monday, September 25th. KeyCorp increased their target price on shares of Square from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 3rd. Vetr cut shares of Square from a “buy” rating to a “hold” rating and set a $31.08 target price for the company. in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $31.00 target price on shares of Square in a research report on Sunday, October 8th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-five have issued a buy rating to the company. Square currently has an average rating of “Buy” and an average target price of $36.23.
Square (NYSE:SQ) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS.
Hedge funds have recently made changes to their positions in the business. Strs Ohio acquired a new stake in Square during the 4th quarter worth approximately $110,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Square during the 4th quarter worth approximately $139,000. Riverhead Capital Management LLC acquired a new stake in Square during the 2nd quarter worth approximately $149,000. Hudock Capital Group LLC acquired a new stake in Square during the 3rd quarter worth approximately $157,000. Finally, Prudential Financial Inc. acquired a new stake in Square during the 3rd quarter worth approximately $205,000. Hedge funds and other institutional investors own 54.29% of the company’s stock.
In related news, insider Ajmere Dale sold 20,286 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $39.12, for a total value of $793,588.32. Following the sale, the insider now directly owns 134,518 shares in the company, valued at approximately $5,262,344.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hillary B. Smith sold 1,551 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $35.12, for a total transaction of $54,471.12. Following the completion of the sale, the insider now owns 487,482 shares in the company, valued at $17,120,367.84. The disclosure for this sale can be found here. Insiders sold a total of 1,669,532 shares of company stock worth $65,210,218 in the last ninety days. Insiders own 32.68% of the company’s stock.
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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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