Square, Inc. (NYSE:SQ) – Stock analysts at Wedbush decreased their Q1 2019 earnings per share (EPS) estimates for shares of Square in a note issued to investors on Thursday, November 1st. Wedbush analyst M. Katri now forecasts that the technology company will post earnings per share of $0.01 for the quarter, down from their prior forecast of $0.02. Wedbush also issued estimates for Square’s Q2 2019 earnings at $0.09 EPS, Q3 2019 earnings at $0.06 EPS and Q4 2019 earnings at $0.06 EPS.
Other equities research analysts have also recently issued research reports about the company. Citigroup upgraded Square from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Tuesday. Buckingham Research upgraded Square from a “neutral” rating to a “buy” rating and upped their price target for the stock from $65.00 to $85.00 in a research note on Monday, August 6th. Credit Suisse Group upgraded Square from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $44.00 to $81.00 in a research note on Thursday, July 19th. Oppenheimer cut Square from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 10th. Finally, Guggenheim upped their price target on Square from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $73.36.
Square stock opened at $77.31 on Monday. Square has a 12 month low of $34.14 and a 12 month high of $101.15. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.18 and a quick ratio of 2.18. The company has a market cap of $31.91 billion, a PE ratio of -773.10 and a beta of 4.30.
A number of institutional investors have recently bought and sold shares of the business. Regentatlantic Capital LLC acquired a new stake in shares of Square during the third quarter valued at $249,000. Checchi Capital Advisers LLC acquired a new stake in shares of Square during the third quarter valued at $284,000. Boston Family Office LLC acquired a new stake in shares of Square during the second quarter valued at $341,000. Cognios Capital LLC boosted its stake in shares of Square by 18.2% during the second quarter. Cognios Capital LLC now owns 24,549 shares of the technology company’s stock valued at $1,513,000 after acquiring an additional 3,779 shares during the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Square by 39.1% during the second quarter. Brighton Jones LLC now owns 11,572 shares of the technology company’s stock valued at $713,000 after acquiring an additional 3,251 shares during the last quarter. 51.25% of the stock is currently owned by institutional investors.
In other Square news, CEO Jack Dorsey sold 103,035 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $73.93, for a total value of $7,617,377.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sivan Whiteley sold 1,875 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $77.70, for a total value of $145,687.50. Following the completion of the sale, the insider now directly owns 121,708 shares in the company, valued at approximately $9,456,711.60. The disclosure for this sale can be found here. Insiders sold 2,597,615 shares of company stock worth $208,057,083 in the last three months. 27.99% of the stock is owned by corporate insiders.
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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