Square (NYSE:SQ) Lifted to “Hold” at Craig Hallum

Craig Hallum upgraded shares of Square (NYSE:SQ) from a sell rating to a hold rating in a report issued on Wednesday morning, BenzingaRatingsTable reports. The firm currently has $63.00 target price on the technology company’s stock, up from their prior target price of $55.00.

SQ has been the topic of several other reports. Nomura increased their price target on Square from $90.00 to $100.00 and gave the stock a buy rating in a report on Friday, June 28th. BTIG Research reiterated a sell rating and issued a $30.00 price target on shares of Square in a report on Sunday, August 4th. Argus assumed coverage on Square in a report on Monday, July 8th. They issued a buy rating and a $94.00 price target on the stock. Wedbush reiterated a neutral rating on shares of Square in a report on Monday, July 1st. Finally, Bank of America reduced their price target on Square from $78.00 to $70.00 and set a neutral rating on the stock in a report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eighteen have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $79.91.

Shares of NYSE SQ opened at $57.85 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.49 and a current ratio of 1.49. The business’s 50 day moving average price is $62.86 and its 200-day moving average price is $70.26. Square has a fifty-two week low of $49.82 and a fifty-two week high of $101.15. The company has a market cap of $25.52 billion, a price-to-earnings ratio of 2,892.50, a PEG ratio of 20.31 and a beta of 3.41.

Square (NYSE:SQ) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.20. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The firm had revenue of $563.00 million for the quarter, compared to the consensus estimate of $557.67 million. During the same period in the prior year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. Sell-side analysts predict that Square will post 0.12 earnings per share for the current year.

In other Square news, insider Alyssa Henry sold 20,000 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $77.69, for a total transaction of $1,553,800.00. Following the sale, the insider now owns 449,261 shares of the company’s stock, valued at approximately $34,903,087.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline D. Reses sold 5,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $73.26, for a total value of $366,300.00. Following the sale, the insider now directly owns 399,914 shares in the company, valued at approximately $29,297,699.64. The disclosure for this sale can be found here. Insiders have sold a total of 77,001 shares of company stock worth $5,295,829 in the last ninety days. Insiders own 21.79% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Enterprise Trust & Investment Co bought a new stake in Square during the 2nd quarter valued at $25,000. Larson Financial Group LLC boosted its position in shares of Square by 130.7% in the 2nd quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock worth $27,000 after purchasing an additional 213 shares in the last quarter. Berman Capital Advisors LLC boosted its position in shares of Square by 190.2% in the 1st quarter. Berman Capital Advisors LLC now owns 473 shares of the technology company’s stock worth $35,000 after purchasing an additional 310 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Square by 78.4% in the 2nd quarter. Benjamin Edwards Inc. now owns 512 shares of the technology company’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Finally, Atlantic Trust LLC boosted its position in shares of Square by 38.9% in the 2nd quarter. Atlantic Trust LLC now owns 521 shares of the technology company’s stock worth $38,000 after purchasing an additional 146 shares in the last quarter. 55.71% of the stock is currently owned by institutional investors and hedge funds.

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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