Square’s (SQ) “Hold” Rating Reiterated at Craig Hallum
Craig Hallum reiterated their hold rating on shares of Square, Inc. (NYSE:SQ) in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has a $33.00 price target on the technology company’s stock, up from their previous price target of $23.00.
Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a buy rating and set a $30.00 target price (up previously from $20.00) on shares of Square in a research report on Thursday, August 3rd. Deutsche Bank AG increased their target price on shares of Square to $28.00 and gave the company a buy rating in a research report on Monday, July 24th. Zacks Investment Research raised shares of Square from a hold rating to a buy rating and set a $30.00 target price for the company in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a buy rating and set a $29.00 target price (up previously from $23.00) on shares of Square in a research report on Sunday, July 30th. Finally, BidaskClub cut shares of Square from a strong-buy rating to a buy rating in a report on Saturday, August 5th. Thirteen analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $32.17.
Square (SQ) traded up $1.25 during trading hours on Thursday, reaching $39.21. 19,473,500 shares of the company were exchanged, compared to its average volume of 7,253,239. Square has a 12 month low of $11.43 and a 12 month high of $39.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81.
Square (NYSE:SQ) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The company had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Square’s revenue for the quarter was up 44.6% compared to the same quarter last year. equities analysts anticipate that Square will post -0.16 EPS for the current fiscal year.
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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square 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 sale, the director now owns 507,385 shares in the company, valued at $12,694,772.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sarah Friar sold 19,200 shares of Square stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $25.54, for a total transaction of $490,368.00. Following the completion of the sale, the chief financial officer now owns 366,103 shares in the company, valued at approximately $9,350,270.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,353,600 shares of company stock worth $38,351,040. Company insiders own 32.68% of the company’s stock.
Large investors have recently bought and sold shares of the company. Almanack Investment Partners LLC. purchased a new position in shares of Square in the second quarter worth about $117,000. Hudock Capital Group LLC purchased a new position in shares of Square in the third quarter worth about $157,000. Riverhead Capital Management LLC purchased a new position in shares of Square in the second quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Square by 19.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock worth $158,000 after buying an additional 1,099 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Square in the third quarter worth about $205,000. 53.24% of the stock is currently owned by hedge funds and other institutional investors.
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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