Square’s (SQ) “Buy” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their buy rating on shares of Square (NYSE:SQ) in a research note released on Monday, AnalystRatings.com reports. Royal Bank of Canada currently has a $78.00 price objective on the technology company’s stock.

Several other equities analysts have also issued reports on the company. Bank of America upgraded Square from a neutral rating to a buy rating and raised their price target for the stock from $70.00 to $75.00 in a research report on Tuesday, January 7th. ValuEngine upgraded Square from a hold rating to a buy rating in a research report on Tuesday, January 7th. Berenberg Bank assumed coverage on Square in a report on Thursday, October 3rd. They issued a hold rating and a $58.00 price objective for the company. Evercore ISI dropped their price objective on Square from $50.00 to $37.00 and set an underperform rating for the company in a report on Thursday, November 7th. Finally, Nomura assumed coverage on Square in a report on Friday, October 11th. They issued a reduce rating and a $49.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $72.70.

SQ opened at $68.69 on Monday. The stock’s 50 day simple moving average is $65.89 and its 200 day simple moving average is $65.92. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 1.68. Square has a 1 year low of $54.41 and a 1 year high of $83.20. The firm has a market cap of $29.81 billion, a price-to-earnings ratio of -572.37, a PEG ratio of 29.46 and a beta of 3.30.

Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. Square had a positive return on equity of 5.72% and a negative net margin of 1.01%. The business had revenue of $602.00 million for the quarter, compared to analyst estimates of $596.85 million. During the same period last year, the company earned $0.13 EPS. Square’s revenue for the quarter was up 39.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Square will post 0.12 EPS for the current year.

In other Square news, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.17, for a total transaction of $1,403,400.00. Following the completion of the transaction, the insider now owns 415,604 shares in the company, valued at $29,162,932.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline D. Reses sold 82,720 shares of Square stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $63.64, for a total value of $5,264,300.80. Following the transaction, the insider now owns 248,534 shares of the company’s stock, valued at approximately $15,816,703.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,743 shares of company stock valued at $15,546,094. 21.79% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Assetmark Inc. increased its holdings in shares of Square by 67.6% in the 2nd quarter. Assetmark Inc. now owns 523 shares of the technology company’s stock worth $38,000 after purchasing an additional 211 shares in the last quarter. Strategic Wealth Partners Ltd. increased its holdings in shares of Square by 714.3% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 570 shares of the technology company’s stock worth $30,979,000 after purchasing an additional 500 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Square by 68.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 625 shares of the technology company’s stock worth $39,000 after purchasing an additional 253 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Square in the 4th quarter worth $40,000. Finally, Benjamin Edwards Inc. increased its holdings in shares of Square by 39.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 712 shares of the technology company’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 57.77% 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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