Square (NYSE:SQ) Rating Reiterated by Guggenheim

Square (NYSE:SQ)‘s stock had its “buy” rating reiterated by analysts at Guggenheim in a note issued to investors on Monday, Marketbeat reports. They presently have a $80.00 target price on the technology company’s stock, down from their previous target price of $94.00. Guggenheim’s target price suggests a potential upside of 23.36% from the stock’s current price.

A number of other brokerages also recently weighed in on SQ. ValuEngine upgraded Square from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. BTIG Research reiterated a “sell” rating and issued a $30.00 price target on shares of Square in a report on Sunday. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Tuesday, May 7th. Evercore ISI downgraded Square from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $101.00 to $64.00 in a report on Thursday, August 1st. Finally, Argus assumed coverage on Square in a report on Monday, July 8th. They issued a “buy” rating and a $94.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $84.80.

Shares of NYSE SQ opened at $64.85 on Monday. Square has a twelve month low of $49.82 and a twelve month high of $101.15. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.87. The company has a market cap of $29.44 billion, a P/E ratio of 3,242.50, a price-to-earnings-growth ratio of 18.66 and a beta of 3.31. The firm has a 50 day moving average price of $76.12.

Square (NYSE:SQ) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.20. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The business had revenue of $563.00 million during the quarter, compared to the consensus estimate of $557.67 million. During the same period in the previous year, the business earned $0.13 EPS. The business’s quarterly revenue was up 46.2% on a year-over-year basis. Research analysts forecast that Square will post 0.15 EPS for the current year.

In other news, insider Jacqueline D. Reses sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $73.26, for a total value of $366,300.00. Following the completion of the sale, the insider now owns 399,914 shares in the company, valued at $29,297,699.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ajmere Dale sold 2,296 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $60.86, for a total value of $139,734.56. Following the completion of the sale, the insider now owns 79,725 shares of the company’s stock, valued at approximately $4,852,063.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,249 shares of company stock valued at $5,553,625. Insiders own 21.79% of the company’s stock.

Several institutional investors have recently made changes to their positions in SQ. Dimensional Fund Advisors LP raised its position in shares of Square by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 268,982 shares of the technology company’s stock worth $15,088,000 after purchasing an additional 10,246 shares during the period. APG Asset Management N.V. acquired a new stake in shares of Square during the fourth quarter worth $1,222,000. Schnieders Capital Management LLC acquired a new stake in shares of Square during the first quarter worth $316,000. Pinnacle Bank acquired a new stake in shares of Square during the first quarter worth $31,000. Finally, Legacy Advisors LLC acquired a new stake in shares of Square during the first quarter worth $27,000. Institutional investors and hedge funds own 52.64% of the company’s stock.

About Square

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.

Further Reading: Retained Earnings

Analyst Recommendations for Square (NYSE:SQ)

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