Square (NYSE:SQ) Earns “Buy” Rating from Barclays

Barclays reissued their buy rating on shares of Square (NYSE:SQ) in a research report released on Friday, January 5th. Barclays currently has a $43.00 price target on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Credit Suisse Group restated a positive rating and set a $37.00 price objective (up from $31.00) on shares of Square in a research note on Monday, November 20th. Citigroup cut shares of Square from a buy rating to a neutral rating and set a $38.00 price objective on the stock. in a research note on Thursday, November 9th. Cantor Fitzgerald lifted their price objective on shares of Square to $41.00 and gave the company an overweight rating in a research note on Thursday, November 9th. Canaccord Genuity boosted their price target on shares of Square from $26.00 to $33.00 and gave the stock a hold rating in a research report on Thursday, November 9th. Finally, Royal Bank of Canada reiterated a buy rating and issued a $31.00 price target on shares of Square in a research report on Sunday, October 8th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $35.37.

Square (NYSE SQ) traded down $1.44 during mid-day trading on Friday, hitting $39.81. 2,686,516 shares of the stock were exchanged, compared to its average volume of 17,989,322. Square has a twelve month low of $13.84 and a twelve month high of $49.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a market capitalization of $16,030.00 and a P/E ratio of -234.20.

Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The firm’s revenue was up 44.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 earnings per share. research analysts forecast that Square will post -0.15 EPS for the current fiscal year.

In other Square news, insider Ajmere Dale sold 1,451 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the sale, the insider now directly owns 109,586 shares in the company, valued at $4,383,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hillary B. Smith sold 1,551 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $35.12, for a total value of $54,471.12. Following the completion of the sale, the insider now owns 487,482 shares in the company, valued at $17,120,367.84. The disclosure for this sale can be found here. Insiders sold 1,231,132 shares of company stock valued at $47,702,154 over the last 90 days. 32.68% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in SQ. FMR LLC boosted its holdings in Square by 114.7% in the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after acquiring an additional 12,764,491 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Square by 73.4% in the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after acquiring an additional 8,058,892 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Square by 556.5% in the second quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock valued at $107,786,000 after acquiring an additional 3,894,639 shares during the last quarter. Capital World Investors boosted its holdings in Square by 32.8% in the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after acquiring an additional 3,853,000 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Square by 31.0% in the third quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock valued at $383,235,000 after acquiring an additional 3,147,558 shares during the last quarter. Institutional investors own 54.21% of the company’s stock.

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Square Company Profile

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.

Analyst Recommendations for Square (NYSE:SQ)

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