Square’s (SQ) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Square (NYSE:SQ) in a research note issued to investors on Thursday morning, The Fly reports. They currently have a $91.00 price target on the technology company’s stock.

Several other research firms also recently issued reports on SQ. KeyCorp cut their price target on Square from $100.00 to $75.00 and set an overweight rating for the company in a research note on Friday, September 20th. ValuEngine downgraded Square from a buy rating to a hold rating in a research note on Tuesday, August 6th. Needham & Company LLC set a $90.00 price target on Square and gave the stock a buy rating in a research note on Thursday, September 12th. Guggenheim reaffirmed a buy rating and set a $80.00 price target (down previously from $94.00) on shares of Square in a research note on Monday, August 5th. Finally, Wedbush set a $75.00 price target on Square and gave the stock a hold rating in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $74.17.

Shares of NYSE SQ traded up $0.29 during trading on Thursday, hitting $61.83. 3,504,192 shares of the company were exchanged, compared to its average volume of 8,976,768. The company has a market cap of $26.49 billion, a price-to-earnings ratio of 3,091.50, a PEG ratio of 22.30 and a beta of 3.40. Square has a 1 year low of $49.82 and a 1 year high of $83.20. The firm’s fifty day moving average price is $60.82 and its 200 day moving average price is $68.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49.

Square (NYSE:SQ) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.20. The business had revenue of $563.00 million during the quarter, compared to the consensus estimate of $557.67 million. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The business’s revenue was up 46.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 EPS. On average, research analysts forecast that Square will post 0.11 earnings per share for the current year.

In other Square news, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $60.26, for a total value of $1,205,200.00. Following the completion of the sale, the insider now owns 442,168 shares in the company, valued at approximately $26,645,043.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ajmere Dale sold 2,048 shares of Square stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $62.47, for a total value of $127,938.56. Following the completion of the sale, the chief accounting officer now owns 64,050 shares of the company’s stock, valued at approximately $4,001,203.50. The disclosure for this sale can be found here. Insiders sold a total of 47,048 shares of company stock valued at $2,979,489 in the last three months. 21.79% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SQ. AdvisorNet Financial Inc lifted its holdings in Square by 1.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 9,338 shares of the technology company’s stock valued at $677,000 after buying an additional 140 shares in the last quarter. Atlantic Trust LLC boosted its position in shares of Square by 38.9% during 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. Cresset Asset Management LLC boosted its position in shares of Square by 6.6% during the 2nd quarter. Cresset Asset Management LLC now owns 2,940 shares of the technology company’s stock worth $213,000 after purchasing an additional 181 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of Square by 4.2% during the 2nd quarter. Hilltop Holdings Inc. now owns 4,776 shares of the technology company’s stock worth $347,000 after purchasing an additional 191 shares in the last quarter. Finally, Meridian Wealth Management LLC boosted its position in shares of Square by 4.4% during the 1st quarter. Meridian Wealth Management LLC now owns 4,677 shares of the technology company’s stock worth $351,000 after purchasing an additional 199 shares in the last quarter. Institutional investors own 55.77% 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.

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Analyst Recommendations for Square (NYSE:SQ)

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