Square, Inc. (NYSE:SQ) – Investment analysts at Wedbush raised their FY2017 earnings estimates for Square in a research report issued to clients and investors on Thursday. Wedbush analyst M. Katri now expects that the technology company will earn ($0.15) per share for the year, up from their prior estimate of ($0.16). Wedbush currently has a “Neutral” rating and a $28.00 price objective on the stock. Wedbush also issued estimates for Square’s Q4 2017 earnings at ($0.03) EPS, Q2 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.05) EPS and FY2019 earnings at $0.13 EPS.
Several other research firms have also issued reports on SQ. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, October 3rd. KeyCorp reissued an “overweight” rating on shares of Square in a report on Tuesday, July 18th. Barclays PLC reissued an “overweight” rating and set a $28.00 target price (up from $21.00) on shares of Square in a report on Wednesday, August 9th. Canaccord Genuity reissued a “hold” rating and set a $26.00 target price (up from $18.00) on shares of Square in a report on Wednesday, August 9th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $26.00 target price (up from $25.00) on shares of Square in a report on Wednesday, August 9th. Eleven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.32.
Square (SQ) opened at 32.69 on Monday. The firm’s 50 day moving average price is $28.42 and its 200-day moving average price is $23.89. Square has a one year low of $10.88 and a one year high of $33.31. The company’s market capitalization is $12.54 billion.
Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $240.00 million for the quarter, compared to the consensus estimate of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The business’s revenue was up 40.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) earnings per share.
In other Square news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $32.81, for a total value of $1,259,904.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total value of $10,008,000.00. Following the completion of the transaction, the director now owns 507,385 shares of the company’s stock, valued at $12,694,772.70. The disclosure for this sale can be found here. Insiders sold 953,600 shares of company stock valued at $25,263,040 over the last quarter. Corporate insiders own 32.68% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. raised its position in shares of Square by 22.7% during the first quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,090 shares during the last quarter. Almanack Investment Partners LLC. bought a new position in shares of Square during the second quarter worth about $117,000. Riverhead Capital Management LLC bought a new position in shares of Square during the second quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Square by 19.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,099 shares during the last quarter. Finally, FNY Partners Fund LP raised its position in shares of Square by 55.4% during the first quarter. FNY Partners Fund LP now owns 10,100 shares of the technology company’s stock worth $174,000 after acquiring an additional 3,600 shares during the last quarter. Hedge funds and other institutional investors own 53.97% 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.
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