Square (NYSE:SQ) Receives New Coverage from Analysts at Oddo Bhf

Oddo Bhf assumed coverage on shares of Square (NYSE:SQ) in a research note published on Wednesday, The Fly reports. The firm issued a neutral rating on the technology company’s stock.

A number of other research firms have also recently commented on SQ. Keefe, Bruyette & Woods upgraded shares of Square from a market perform rating to an outperform rating and set a $250.00 price objective for the company in a research report on Wednesday, March 31st. Sanford C. Bernstein reaffirmed an outperform rating and set a $266.00 price target on shares of Square in a research report on Wednesday, January 27th. Redburn Partners started coverage on Square in a research report on Thursday, March 18th. They issued a sell rating for the company. Wells Fargo & Company cut Square from an overweight rating to an equal weight rating and set a $255.00 target price for the company. in a research note on Wednesday, February 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Square from a hold rating to a strong-buy rating and set a $278.00 price target on the stock in a research note on Monday, January 11th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $224.10.

Square stock opened at $245.12 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $111.44 billion, a P/E ratio of 389.09, a PEG ratio of 29.50 and a beta of 2.71. The business has a 50-day moving average of $234.54 and a 200-day moving average of $212.08. Square has a 1 year low of $51.81 and a 1 year high of $283.19.

Square (NYSE:SQ) last issued its quarterly earnings data on Tuesday, February 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.08. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Square had a net margin of 4.05% and a negative return on equity of 0.01%. The business’s revenue for the quarter was up 139.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. Research analysts anticipate that Square will post -0.03 EPS for the current fiscal year.

In related news, CEO Jack Dorsey sold 100,000 shares of the business’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $229.87, for a total value of $22,987,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amrita Ahuja sold 1,138 shares of Square stock in a transaction on Friday, January 8th. The stock was sold at an average price of $244.35, for a total value of $278,070.30. Following the sale, the chief financial officer now directly owns 158,221 shares of the company’s stock, valued at approximately $38,661,301.35. The disclosure for this sale can be found here. Insiders have sold a total of 1,253,392 shares of company stock valued at $288,582,891 in the last ninety days. 21.79% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in SQ. Gamble Jones Investment Counsel boosted its holdings in Square by 2.6% in the 4th quarter. Gamble Jones Investment Counsel now owns 1,723 shares of the technology company’s stock valued at $375,000 after purchasing an additional 43 shares during the period. Nvwm LLC raised its holdings in Square by 0.9% in the 4th quarter. Nvwm LLC now owns 5,522 shares of the technology company’s stock valued at $1,202,000 after acquiring an additional 47 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Square by 3.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,450 shares of the technology company’s stock valued at $316,000 after acquiring an additional 50 shares in the last quarter. Fort Point Capital Partners LLC lifted its position in shares of Square by 2.5% during the 4th quarter. Fort Point Capital Partners LLC now owns 2,050 shares of the technology company’s stock valued at $446,000 after acquiring an additional 50 shares during the period. Finally, Boenning & Scattergood Inc. grew its holdings in shares of Square by 3.0% during the 4th quarter. Boenning & Scattergood Inc. now owns 1,789 shares of the technology company’s stock worth $389,000 after purchasing an additional 52 shares in the last quarter. 64.01% of the stock is currently owned by institutional investors and hedge funds.

About Square

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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