Square, Inc. (NYSE:SQ) – Equities research analysts at KeyCorp increased their Q1 2020 EPS estimates for Square in a research report issued on Monday, April 29th, according to Zacks Investment Research. KeyCorp analyst J. Beck now expects that the technology company will earn ($0.01) per share for the quarter, up from their prior estimate of ($0.15). KeyCorp currently has a “Overweight” rating and a $110.00 target price on the stock. KeyCorp also issued estimates for Square’s Q3 2020 earnings at $0.08 EPS.
Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.09). The firm had revenue of $489.00 million during the quarter, compared to analyst estimates of $479.63 million. Square had a negative net margin of 1.47% and a positive return on equity of 1.86%. Square’s revenue for the quarter was up 59.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS.
A number of other research analysts also recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Square in a report on Tuesday, April 2nd. They set a “market perform” rating and a $80.00 price target on the stock. ValuEngine upgraded shares of Square from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 25th. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Tuesday, May 7th. Nomura reiterated a “buy” rating and set a $110.00 target price (up from $108.00) on shares of Square in a research report on Thursday, January 24th. Finally, Canaccord Genuity reissued a “buy” rating and set a $88.00 price target on shares of Square in a research note on Wednesday, February 27th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $86.14.
Square stock traded up $0.91 during midday trading on Thursday, reaching $64.66. The stock had a trading volume of 7,116,398 shares, compared to its average volume of 11,955,481. The firm has a market capitalization of $27.28 billion, a price-to-earnings ratio of 3,233.00, a P/E/G ratio of 17.58 and a beta of 3.49. Square has a twelve month low of $49.82 and a twelve month high of $101.15. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.50 and a current ratio of 1.50.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC lifted its stake in shares of Square by 56.6% during the 1st quarter. Jennison Associates LLC now owns 15,136,362 shares of the technology company’s stock worth $1,134,016,000 after purchasing an additional 5,472,640 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Square by 4,800.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,698,238 shares of the technology company’s stock valued at $66,000 after purchasing an additional 3,622,766 shares during the period. Morgan Stanley increased its holdings in shares of Square by 36.9% in the first quarter. Morgan Stanley now owns 11,544,829 shares of the technology company’s stock valued at $864,940,000 after purchasing an additional 3,110,212 shares during the period. Norges Bank purchased a new stake in shares of Square in the fourth quarter worth about $141,059,000. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Square by 11,275.7% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,998,253 shares of the technology company’s stock worth $112,082,000 after buying an additional 1,980,687 shares during the last quarter. Institutional investors own 55.56% of the company’s stock.
In related news, CAO Ajmere Dale sold 2,048 shares of Square stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $80.00, for a total transaction of $163,840.00. Following the sale, the chief accounting officer now owns 79,985 shares of the company’s stock, valued at approximately $6,398,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $78.04, for a total value of $8,040,851.40. The disclosure for this sale can be found here. Insiders have sold 716,606 shares of company stock valued at $54,179,892 over the last 90 days. Corporate insiders own 21.79% 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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