Square, Inc. (NYSE:SQ) – Stock analysts at Wedbush upped their Q2 2019 earnings per share (EPS) estimates for Square in a note issued to investors on Wednesday, April 18th. Wedbush analyst M. Katri now forecasts that the technology company will post earnings per share of $0.07 for the quarter, up from their previous forecast of $0.05. Wedbush has a “Neutral” rating and a $50.00 price objective on the stock. Wedbush also issued estimates for Square’s FY2019 earnings at $0.28 EPS.
A number of other research firms have also weighed in on SQ. Vetr lowered shares of Square from a “buy” rating to a “hold” rating and set a $58.05 target price for the company. in a report on Tuesday, March 20th. Craig Hallum lowered shares of Square from a “hold” rating to a “sell” rating and set a $37.00 target price for the company. in a report on Friday, March 23rd. Evercore ISI reiterated an “outperform” rating and set a $67.00 target price on shares of Square in a report on Monday, March 26th. Deutsche Bank increased their target price on shares of Square from $47.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, March 23rd. Finally, Nomura dropped their target price on shares of Square from $65.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $43.85.
Square (NYSE:SQ) last posted its earnings results on Tuesday, February 27th. The technology company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. The company had revenue of $616.04 million during the quarter, compared to analyst estimates of $601.63 million. Square had a negative net margin of 2.84% and a negative return on equity of 6.60%.
In other Square news, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $41.43, for a total transaction of $1,590,912.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $45.66, for a total transaction of $18,264,000.00. Following the transaction, the director now directly owns 468,020 shares of the company’s stock, valued at approximately $21,369,793.20. The disclosure for this sale can be found here. Insiders have sold 1,334,255 shares of company stock valued at $64,240,770 in the last ninety days. Insiders own 32.68% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Square by 96.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 59,667 shares of the technology company’s stock valued at $2,069,000 after buying an additional 29,282 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of Square during the fourth quarter valued at approximately $1,310,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Square during the fourth quarter valued at approximately $3,535,000. BB&T Securities LLC grew its holdings in shares of Square by 16.6% during the fourth quarter. BB&T Securities LLC now owns 10,902 shares of the technology company’s stock valued at $377,000 after buying an additional 1,550 shares during the last quarter. Finally, Leonetti & Associates LLC grew its holdings in shares of Square by 5.5% during the fourth quarter. Leonetti & Associates LLC now owns 118,075 shares of the technology company’s stock valued at $4,094,000 after buying an additional 6,150 shares during the last quarter. Hedge funds and other institutional investors own 52.42% of the company’s stock.
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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 Europay, MasterCard, and Visa (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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