Cantor Fitzgerald Reiterates “Overweight” Rating for Square (NYSE:SQ)

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Square (NYSE:SQ)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a note issued to investors on Thursday, The Fly reports.

SQ has been the subject of several other reports. Evercore ISI set a $50.00 target price on Square and gave the company a “sell” rating in a report on Tuesday, September 24th. Wells Fargo & Co raised Square from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Thursday, September 26th. Needham & Company LLC set a $90.00 target price on Square and gave the company a “buy” rating in a report on Thursday, September 12th. Raymond James raised Square from an “underperform” rating to a “market perform” rating and set a $74.15 target price for the company in a report on Tuesday, July 9th. Finally, Berenberg Bank started coverage on Square in a report on Thursday, October 3rd. They set a “hold” rating and a $58.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $74.17.

NYSE:SQ opened at $61.54 on Thursday. The firm has a market capitalization of $26.58 billion, a PE ratio of 1,037.00, a price-to-earnings-growth ratio of 22.37 and a beta of 3.40. The stock has a 50 day moving average of $60.82 and a 200-day moving average of $68.65. Square has a 52 week low of $49.82 and a 52 week high of $83.20. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.87.

Square (NYSE:SQ) last posted its earnings results on Thursday, August 1st. The technology company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.20. The company had revenue of $563.00 million during the quarter, compared to analyst estimates of $557.67 million. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The business’s revenue was up 46.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 earnings per share. As a group, analysts predict that Square will post 0.11 EPS for the current fiscal year.

In other Square news, insider Alyssa Henry sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $61.86, for a total value of $1,237,200.00. Following the completion of the sale, the insider now directly owns 442,168 shares in the company, valued at $27,352,512.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 2,048 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $62.47, for a total value of $127,938.56. Following the completion of the sale, the chief accounting officer now owns 64,050 shares of the company’s stock, valued at $4,001,203.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,048 shares of company stock valued at $2,979,489. Insiders own 21.79% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SQ. Enterprise Trust & Investment Co acquired a new stake in Square in the second quarter worth approximately $25,000. Larson Financial Group LLC lifted its position in Square by 130.7% in the second quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock worth $27,000 after purchasing an additional 213 shares during the period. Benjamin Edwards Inc. lifted its position in Square by 78.4% in the second quarter. Benjamin Edwards Inc. now owns 512 shares of the technology company’s stock worth $37,000 after purchasing an additional 225 shares during the period. Atlantic Trust LLC lifted its position in Square by 38.9% in the second quarter. Atlantic Trust LLC now owns 521 shares of the technology company’s stock worth $38,000 after purchasing an additional 146 shares during the period. Finally, Commonwealth Bank of Australia lifted its position in Square by 62.5% in the second quarter. Commonwealth Bank of Australia now owns 538 shares of the technology company’s stock worth $38,000 after purchasing an additional 207 shares during the period. Hedge funds and other institutional investors own 55.70% 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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The Fly

Analyst Recommendations for Square (NYSE:SQ)

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