Square (NYSE:SQ) Now Covered by Analysts at JMP Securities

JMP Securities began coverage on shares of Square (NYSE:SQ) in a research note released on Tuesday, Benzinga reports. The firm issued a market perform rating on the technology company’s stock.

A number of other research analysts also recently commented on the stock. Guggenheim downgraded shares of Square from a buy rating to a neutral rating in a research note on Friday, May 8th. Morgan Stanley reduced their price target on shares of Square from $75.00 to $41.00 and set an equal weight rating on the stock in a research report on Monday, March 23rd. Bank of America downgraded Square from a neutral rating to an underperform rating and set a $84.00 price target for the company. in a research note on Monday, May 18th. Wells Fargo & Co dropped their price objective on shares of Square from $90.00 to $75.00 and set an overweight rating on the stock in a research note on Wednesday, March 25th. Finally, SunTrust Banks raised their target price on Square from $70.00 to $83.00 and gave the company a buy rating in a research note on Thursday, May 7th. Five analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $72.95.

SQ opened at $104.94 on Tuesday. Square has a twelve month low of $32.33 and a twelve month high of $107.84. The firm has a market cap of $45.82 billion, a price-to-earnings ratio of 166.57 and a beta of 2.67. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.17. The company has a fifty day simple moving average of $88.33 and a 200 day simple moving average of $71.54.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). Square had a net margin of 5.99% and a return on equity of 0.44%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was up 44.0% on a year-over-year basis. On average, analysts forecast that Square will post -0.56 earnings per share for the current fiscal year.

In other Square news, CAO Ajmere Dale sold 6,106 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $90.78, for a total transaction of $554,302.68. Following the sale, the chief accounting officer now directly owns 57,021 shares in the company, valued at $5,176,366.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Grassadonia sold 8,305 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $46.91, for a total transaction of $389,587.55. Following the completion of the transaction, the insider now directly owns 118,736 shares in the company, valued at $5,569,905.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,811 shares of company stock valued at $5,254,719. 19.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. MML Investors Services LLC boosted its position in Square by 1.4% in the first quarter. MML Investors Services LLC now owns 13,938 shares of the technology company’s stock valued at $730,000 after buying an additional 192 shares in the last quarter. Hudock Inc. increased its position in Square by 15.2% in the 1st quarter. Hudock Inc. now owns 1,520 shares of the technology company’s stock valued at $79,000 after acquiring an additional 200 shares during the period. Certified Advisory Corp increased its position in Square by 52.4% in the 1st quarter. Certified Advisory Corp now owns 582 shares of the technology company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. McGowan Group Asset Management Inc. raised its stake in shares of Square by 5.1% during the first quarter. McGowan Group Asset Management Inc. now owns 4,751 shares of the technology company’s stock valued at $249,000 after acquiring an additional 230 shares during the last quarter. Finally, Ellevest Inc. lifted its holdings in shares of Square by 39.8% during the first quarter. Ellevest Inc. now owns 888 shares of the technology company’s stock worth $47,000 after purchasing an additional 253 shares during the period. 62.71% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: What causes a recession?

Analyst Recommendations for Square (NYSE:SQ)

Receive News & Ratings for Square Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square and related companies with MarketBeat.com's FREE daily email newsletter.