Square, Inc. (SQ) Earns Outperform Rating from Royal Bank Of Canada

Square, Inc. (NYSE:SQ)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday. They presently have a $31.00 price target on the technology company’s stock, up from their prior price target of $24.00. Royal Bank Of Canada’s price objective suggests a potential upside of 25.76% from the company’s previous close.

SQ has been the topic of several other research reports. BTIG Research reaffirmed a “buy” rating and set a $20.00 price target on shares of Square in a research note on Friday, May 5th. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, August 1st. Vetr lowered Square from a “strong-buy” rating to a “buy” rating and set a $19.66 price target on the stock. in a research note on Thursday, April 20th. Mizuho began coverage on Square in a research note on Wednesday, June 28th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Square in a research note on Thursday, July 6th. Eleven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.61.

Shares of Square (NYSE SQ) traded up 0.694% during trading on Wednesday, reaching $24.821. The company had a trading volume of 4,562,253 shares. The company has a 50 day moving average of $25.30 and a 200-day moving average of $20.00. The firm’s market capitalization is $9.52 billion. Square has a 52-week low of $10.88 and a 52-week high of $27.97.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (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 business had revenue of $240 million for the quarter, compared to analyst estimates of $228.64 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 40.4% compared to the same quarter last year. Equities analysts expect that Square will post $0.24 earnings per share for the current year.

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In related news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $22.09, for a total transaction of $848,256.00. Following the completion of the transaction, the chief financial officer now directly owns 375,023 shares in the company, valued at $8,284,258.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Morgan Jr. Mckelvey sold 90,000 shares of the 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 transaction, the director now owns 186,308 shares of the company’s stock, valued at $4,352,154.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 914,900 shares of company stock valued at $20,202,610. 32.68% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Almanack Investment Partners LLC. purchased a new position in Square during the second quarter worth about $117,000. Pacer Advisors Inc. increased 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. Riverhead Capital Management LLC purchased a new position in Square during the second quarter worth about $149,000. Glassman Wealth Services increased 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Square by 19.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after buying an additional 1,099 shares during the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for Square (NYSE:SQ)

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