ValuEngine Lowers Square (SQ) to Hold

ValuEngine lowered shares of Square (NYSE:SQ) from a buy rating to a hold rating in a research report report published on Friday, May 10th, ValuEngine reports.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Square from a hold rating to a buy rating and set a $77.00 price objective for the company in a report on Tuesday, May 7th. BMO Capital Markets decreased their price objective on Square to $90.00 and set a market perform rating for the company in a report on Friday, May 3rd. Wedbush restated a neutral rating and issued a $75.00 price objective on shares of Square in a report on Thursday, May 2nd. SunTrust Banks decreased their price objective on Square to $65.00 and set a hold rating for the company in a report on Thursday, May 2nd. Finally, Needham & Company LLC restated a buy rating and issued a $90.00 price objective (down from $95.00) on shares of Square in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-one have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $86.14.

Shares of NYSE:SQ traded down $1.09 on Friday, hitting $65.31. 6,864,500 shares of the company’s stock were exchanged, compared to its average volume of 12,199,989. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.91. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 3,265.50, a price-to-earnings-growth ratio of 17.30 and a beta of 3.49. Square has a 12 month low of $49.82 and a 12 month high of $101.15.

Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.09). The firm had revenue of $489.00 million during the quarter, compared to the consensus estimate of $479.63 million. Square had a negative net margin of 1.47% and a positive return on equity of 1.86%. The business’s revenue was up 59.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. As a group, equities research analysts predict that Square will post 0.15 EPS for the current fiscal year.

In other news, CAO Ajmere Dale sold 2,048 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $80.00, for a total transaction of $163,840.00. Following the sale, the chief accounting officer now owns 79,985 shares in the company, valued at $6,398,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jack Dorsey sold 103,035 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $78.04, for a total value of $8,040,851.40. The disclosure for this sale can be found here. Insiders have sold 819,641 shares of company stock worth $62,130,073 in the last 90 days. Insiders own 21.79% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lenox Wealth Management Inc. purchased a new stake in Square in the first quarter valued at approximately $25,000. Legacy Advisors LLC acquired a new position in shares of Square during the 1st quarter worth approximately $27,000. FTB Advisors Inc. acquired a new position in shares of Square during the 1st quarter worth approximately $27,000. Cullen Frost Bankers Inc. acquired a new position in shares of Square during the 1st quarter worth approximately $28,000. Finally, Private Ocean LLC acquired a new position in shares of Square during the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 52.24% of the company’s stock.

About Square

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.

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Analyst Recommendations for Square (NYSE:SQ)

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