Square (NYSE:SQ) Downgraded by Canaccord Genuity

Canaccord Genuity lowered shares of Square (NYSE:SQ) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. They currently have $64.00 price objective on the technology company’s stock, down from their prior price objective of $88.00.

A number of other research firms have also recently commented on SQ. BTIG Research reissued a sell rating and set a $30.00 target price on shares of Square in a research report on Sunday, August 4th. Morgan Stanley set a $74.00 target price on shares of Square and gave the stock a hold rating in a research report on Thursday, August 29th. Nomura boosted their target price on shares of Square from $90.00 to $100.00 and gave the stock a buy rating in a research report on Friday, June 28th. ValuEngine cut shares of Square from a buy rating to a hold rating in a research report on Tuesday, August 6th. Finally, Atlantic Securities assumed coverage on shares of Square in a research report on Tuesday, September 3rd. They set an underweight rating and a $55.00 target price on the stock. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $81.58.

Shares of NYSE SQ traded up $0.53 during trading on Thursday, reaching $58.32. 770,024 shares of the stock were exchanged, compared to its average volume of 6,624,631. The business’s 50-day moving average price is $66.46 and its 200 day moving average price is $71.03. 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 capitalization of $25.86 billion, a price-to-earnings ratio of 2,914.50, a price-to-earnings-growth ratio of 20.58 and a beta of 3.41.



Square (NYSE:SQ) last posted its earnings results on Thursday, August 1st. The technology company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.20. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The business had revenue of $563.00 million for the quarter, compared to analysts’ expectations of $557.67 million. During the same period in the previous year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was up 46.2% compared to the same quarter last year. As a group, sell-side analysts expect that Square will post 0.12 earnings per share for the current fiscal year.

In other Square news, insider Jacqueline D. Reses sold 5,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $73.26, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $77.69, for a total transaction of $1,553,800.00. Following the sale, the insider now owns 449,261 shares of the company’s stock, valued at approximately $34,903,087.09. The disclosure for this sale can be found here. Insiders sold 77,001 shares of company stock worth $5,295,829 over the last ninety days. 21.79% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew 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 acquiring an additional 10,246 shares during the last quarter. Comerica Bank grew its position in shares of Square by 46.6% during the first quarter. Comerica Bank now owns 14,519 shares of the technology company’s stock worth $1,085,000 after acquiring an additional 4,612 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Square during the first quarter worth about $34,164,000. Stephens Inc. AR grew its position in shares of Square by 14.0% during the first quarter. Stephens Inc. AR now owns 20,909 shares of the technology company’s stock worth $1,567,000 after acquiring an additional 2,569 shares during the last quarter. Finally, Cetera Advisors LLC grew its position in shares of Square by 10.3% during the first quarter. Cetera Advisors LLC now owns 16,524 shares of the technology company’s stock worth $1,223,000 after acquiring an additional 1,548 shares during the last quarter. Hedge funds and other institutional investors own 55.74% 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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Analyst Recommendations for Square (NYSE:SQ)

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