Square (SQ) Lowered to Neutral at Buckingham Research

Square (NYSE:SQ) was downgraded by equities researchers at Buckingham Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

A number of other equities analysts also recently commented on SQ. Deutsche Bank lifted their target price on shares of Square from $37.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Needham & Company LLC lifted their target price on shares of Square from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. UBS Group lifted their target price on shares of Square to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Vetr downgraded shares of Square from a “strong-buy” rating to a “buy” rating and set a $51.48 target price on the stock. in a research note on Tuesday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating and set a $50.00 target price on shares of Square in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have assigned a buy rating to the company. Square currently has an average rating of “Buy” and a consensus target price of $47.69.

Square opened at $63.21 on Wednesday, according to MarketBeat Ratings. The stock has a market cap of $24.56 billion, a P/E ratio of -632.10 and a beta of 4.32. Square has a twelve month low of $22.45 and a twelve month high of $64.08. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45.

Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $307.00 million for the quarter, compared to analyst estimates of $293.07 million. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. Square’s quarterly revenue was up 50.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. equities analysts predict that Square will post 0.01 EPS for the current year.

In related news, CFO Sarah Friar sold 39,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $50.07, for a total transaction of $1,962,744.00. Following the sale, the chief financial officer now directly owns 346,649 shares of the company’s stock, valued at approximately $17,356,715.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Hillary B. Smith sold 21,383 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $54.17, for a total transaction of $1,158,317.11. Following the transaction, the insider now owns 469,814 shares of the company’s stock, valued at approximately $25,449,824.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 910,898 shares of company stock worth $46,576,817. 27.99% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its holdings in Square by 1,476.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock worth $114,000 after acquiring an additional 2,170 shares in the last quarter. McKinley Carter Wealth Services Inc. acquired a new position in Square during the 1st quarter worth approximately $138,000. Strs Ohio acquired a new position in Square during the 4th quarter worth approximately $110,000. Sheaff Brock Investment Advisors LLC acquired a new position in Square during the 1st quarter worth approximately $220,000. Finally, Profund Advisors LLC acquired a new position in Square during the 1st quarter worth approximately $239,000. Institutional investors own 51.92% of the company’s stock.

Square Company Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.

The Fly

Analyst Recommendations for Square (NYSE:SQ)

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