Square Inc (SQ) Receives New Coverage from Analysts at Raymond James Financial, Inc.

Raymond James Financial, Inc. began coverage on shares of Square Inc (NYSE:SQ) in a research note released on Tuesday. The brokerage issued a market perform rating on the stock.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Square from a buy rating to a hold rating in a research note on Thursday, January 5th. Pacific Crest raised Square to an overweight rating and set a $15.00 target price on the stock in a research note on Wednesday, November 30th. Vetr cut Square from a strong-buy rating to a buy rating and set a $16.63 target price on the stock. in a research note on Monday, January 9th. BTIG Research raised Square from a neutral rating to a buy rating and set a $20.00 target price on the stock in a research note on Wednesday, February 22nd. Finally, Mizuho reissued a buy rating and set a $16.00 target price on shares of Square in a research note on Wednesday, December 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $16.64.

Shares of Square (NYSE:SQ) opened at 16.59 on Tuesday. The stock’s market capitalization is $6.09 billion. Square has a 52-week low of $8.42 and a 52-week high of $18.17. The company has a 50-day moving average price of $16.05 and a 200-day moving average price of $13.58.

Square (NYSE:SQ) last posted its earnings results on Wednesday, February 22nd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.05. Square had a negative return on equity of 31.99% and a negative net margin of 12.55%. The firm had revenue of $191.90 million for the quarter, compared to analysts’ expectations of $450.40 million. During the same period in the previous year, the firm earned ($0.34) earnings per share. The business’s revenue was up 42.7% compared to the same quarter last year. On average, equities analysts anticipate that Square will post ($0.24) earnings per share for the current year.

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In other news, insider Francoise Brougher sold 57,693 shares of the business’s stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $14.08, for a total value of $812,317.44. Following the completion of the transaction, the insider now owns 157,826 shares in the company, valued at $2,222,190.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jack Dorsey sold 381,500 shares of the business’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $16.80, for a total value of $6,409,200.00. The disclosure for this sale can be found here. Insiders sold 3,325,070 shares of company stock worth $52,260,188 over the last three months. Corporate insiders own 42.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SQ. Guggenheim Capital LLC boosted its position in Square by 4.0% in the fourth quarter. Guggenheim Capital LLC now owns 18,680 shares of the company’s stock valued at $255,000 after buying an additional 727 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Square by 6.7% in the third quarter. PNC Financial Services Group Inc. now owns 15,940 shares of the company’s stock valued at $187,000 after buying an additional 1,000 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Square by 5.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 19,810 shares of the company’s stock valued at $270,000 after buying an additional 1,070 shares in the last quarter. Pittenger & Anderson Inc. boosted its position in Square by 25.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 12,500 shares of the company’s stock valued at $170,000 after buying an additional 2,500 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Square by 2.2% in the third quarter. First Trust Advisors LP now owns 179,651 shares of the company’s stock valued at $2,095,000 after buying an additional 3,917 shares in the last quarter. Hedge funds and other institutional investors own 24.28% of the company’s stock.

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.

5 Day Chart for NYSE:SQ

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