Square’s (SQ) “Buy” Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Square, Inc. (NYSE:SQ) in a report issued on Sunday, July 30th, MarketBeat.com reports. The firm currently has a $29.00 price target on the technology company’s stock, up from their previous price target of $23.00.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Square from a strong-buy rating to a hold rating in a research note on Tuesday, April 25th. Royal Bank Of Canada lowered their price objective on shares of Square to $18.00 and set a buy rating for the company in a research report on Monday, April 24th. Instinet increased their price objective on shares of Square from $21.00 to $22.00 and gave the stock a buy rating in a research report on Thursday, May 4th. Guggenheim cut shares of Square from a buy rating to a neutral rating and increased their target price for the stock from $19.00 to $20.00 in a report on Thursday, May 4th. They noted that the move was a valuation call. Finally, BTIG Research restated a neutral rating and set a $20.00 target price (down previously from $21.00) on shares of Square in a report on Monday, May 15th. Eleven equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $24.61.

Square (NYSE SQ) traded up 0.69% during midday trading on Friday, reaching $24.82. The company’s stock had a trading volume of 5,266,455 shares. The firm’s 50-day moving average price is $25.32 and its 200-day moving average price is $20.07. Square has a 52 week low of $10.88 and a 52 week high of $27.97. The stock’s market capitalization is $9.52 billion.

Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The company had revenue of $240 million for the quarter, compared to analyst estimates of $228.64 million. During the same period in the prior year, the business earned ($0.08) earnings per share. Square’s quarterly revenue was up 40.4% on a year-over-year basis. On average, analysts anticipate that Square will post $0.24 earnings per share for the current year.

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In other Square news, CEO Jack Dorsey sold 381,500 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $20.42, for a total transaction of $7,790,230.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sarah Friar sold 19,200 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $26.25, for a total transaction of $504,000.00. Following the sale, the chief financial officer now owns 368,791 shares of the company’s stock, valued at approximately $9,680,763.75. The disclosure for this sale can be found here. Insiders sold a total of 914,900 shares of company stock valued at $20,202,610 in the last quarter. 32.68% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of SQ. Pacer Advisors Inc. increased its position in shares of Square by 22.7% in the first quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock worth $102,000 after buying an additional 1,090 shares during the period. Glassman Wealth Services increased its stake in Square by 1,987.3% in the first quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock valued at $114,000 after buying an additional 6,260 shares during the period. Almanack Investment Partners LLC. acquired a new stake in Square during the second quarter valued at approximately $117,000. Old Mutual Global Investors UK Ltd. acquired a new stake in Square during the first quarter valued at approximately $131,000. Finally, Concert Wealth Management Inc. acquired a new stake in Square during the first quarter valued at approximately $144,000. 76.25% of the stock is currently owned by institutional investors.

About Square

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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