Square (NYSE:SQ) updated its third quarter 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $0.18-0.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.22. The company issued revenue guidance of $590-600 million, compared to the consensus revenue estimate of $598.96 million.Square also updated its FY 2019 guidance to $0.74-0.78 EPS.
Several brokerages have weighed in on SQ. Nomura increased their target price on Square from $90.00 to $100.00 and gave the stock a buy rating in a research report on Friday, June 28th. Raymond James raised Square from an underperform rating to a market perform rating and set a $74.15 target price on the stock in a research report on Tuesday, July 9th. ValuEngine raised Square from a hold rating to a buy rating in a research report on Thursday, June 13th. Sanford C. Bernstein began coverage on Square in a research report on Tuesday, April 16th. They issued a market perform rating and a $80.00 target price on the stock. Finally, Evercore ISI lowered Square from an outperform rating to an underperform rating and dropped their target price for the stock from $101.00 to $64.00 in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have assigned a buy rating to the company’s stock. Square has an average rating of Buy and a consensus target price of $85.42.
SQ stock traded down $11.38 during trading hours on Friday, hitting $69.60. 43,696,160 shares of the stock traded hands, compared to its average volume of 7,669,453. The firm has a 50-day moving average of $76.34. Square has a one year low of $49.82 and a one year high of $101.15. The firm has a market capitalization of $34.25 billion, a P/E ratio of 3,480.00, a P/E/G ratio of 21.71 and a beta of 3.31. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.91.
In related news, insider Ajmere Dale sold 2,296 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $60.86, for a total transaction of $139,734.56. Following the completion of the transaction, the insider now owns 79,725 shares of the company’s stock, valued at $4,852,063.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alyssa Henry sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $70.22, for a total value of $1,404,400.00. Following the transaction, the insider now directly owns 460,132 shares of the company’s stock, valued at approximately $32,310,469.04. The disclosure for this sale can be found here. Insiders have sold 72,249 shares of company stock valued at $5,144,475 in the last ninety days. Company insiders own 21.79% 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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