Square (NYSE:SQ) Upgraded to “Sell” by StockNews.com

Square (NYSE:SQGet Rating) was upgraded by StockNews.com to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other analysts also recently weighed in on the company. BTIG Research decreased their target price on Square from $230.00 to $175.00 in a research report on Friday, May 6th. Susquehanna decreased their price objective on Square from $240.00 to $160.00 in a report on Tuesday, April 26th. Credit Suisse Group decreased their price objective on Square from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 25th. Bank of America upgraded Square from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $221.00 to $185.00 in a report on Friday, February 11th. They noted that the move was a valuation call. Finally, CLSA began coverage on Square in a report on Thursday, March 31st. They issued a “buy” rating and a $180.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $195.67.

Shares of SQ opened at $79.70 on Tuesday. The company has a market cap of $46.23 billion, a PE ratio of -531.30 and a beta of 2.38. The business has a fifty day moving average of $115.18 and a 200 day moving average of $143.62. Square has a 52-week low of $65.10 and a 52-week high of $289.23. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.26.

Square (NYSE:SQGet Rating) last released its earnings results on Thursday, May 5th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Square had a positive return on equity of 0.74% and a negative net margin of 0.46%. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was down 21.7% compared to the same quarter last year. As a group, research analysts anticipate that Square will post -0.7 earnings per share for the current fiscal year.

In other Square news, insider Alyssa Henry sold 30,770 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $80.86, for a total value of $2,488,062.20. Following the completion of the transaction, the insider now directly owns 433,436 shares of the company’s stock, valued at $35,047,634.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amrita Ahuja sold 3,814 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $98.47, for a total value of $375,564.58. Following the completion of the transaction, the chief financial officer now directly owns 159,678 shares of the company’s stock, valued at $15,723,492.66. The disclosure for this sale can be found here. Insiders have sold 50,553 shares of company stock valued at $4,947,624 in the last ninety days. Corporate insiders own 15.12% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Ibex Wealth Advisors purchased a new stake in shares of Square during the third quarter worth approximately $25,000. Bell Investment Advisors Inc purchased a new stake in shares of Square during the third quarter worth approximately $30,000. Arlington Partners LLC increased its position in shares of Square by 200.0% during the first quarter. Arlington Partners LLC now owns 234 shares of the technology company’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Consolidated Planning Corp purchased a new stake in shares of Square during the third quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Square during the fourth quarter worth approximately $36,000. 54.56% of the stock is owned by institutional investors and hedge funds.

Square Company Profile (Get Rating)

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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