Craig Hallum Downgrades Square (SQ) to Sell

Square (NYSE:SQ) was downgraded by analysts at Craig Hallum from a “hold” rating to a “sell” rating in a report issued on Friday. They currently have a $37.00 price target on the technology company’s stock. Craig Hallum’s target price points to a potential downside of 28.39% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Vetr lowered shares of Square from a “buy” rating to a “hold” rating and set a $58.05 price objective for the company. in a report on Tuesday, March 20th. Piper Jaffray Companies reiterated a “hold” rating and issued a $45.00 price objective on shares of Square in a report on Thursday, March 1st. Guggenheim reiterated a “buy” rating and issued a $50.00 price objective on shares of Square in a report on Thursday, March 1st. Citigroup reiterated an “outperform” rating and issued a $52.00 price objective (up previously from $41.00) on shares of Square in a report on Thursday, March 1st. Finally, Canaccord Genuity raised their price objective on shares of Square from $33.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $43.03.

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Shares of Square (NYSE SQ) opened at $51.67 on Friday. Square has a one year low of $16.22 and a one year high of $58.46. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a market cap of $21,863.00, a P/E ratio of -322.94 and a beta of 4.56.

Square (NYSE:SQ) last posted its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Square had a negative net margin of 2.84% and a negative return on equity of 6.60%. The company had revenue of $616.04 million for the quarter, compared to the consensus estimate of $601.63 million. sell-side analysts anticipate that Square will post 0.02 earnings per share for the current year.

In other news, insider Ajmere Dale sold 1,451 shares of Square stock in a transaction on Friday, January 5th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the completion of the sale, the insider now owns 109,586 shares in the company, valued at approximately $4,383,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $39.79, for a total transaction of $15,916,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,321,457 shares of company stock valued at $60,422,201 in the last quarter. 32.68% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in SQ. Allianz Asset Management GmbH increased its stake in shares of Square by 31.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock valued at $383,235,000 after acquiring an additional 3,147,558 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Square in the 4th quarter valued at $86,426,000. BlackRock Inc. increased its stake in shares of Square by 18.4% in the 4th quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock valued at $450,913,000 after acquiring an additional 2,024,019 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Square by 458.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,962,828 shares of the technology company’s stock valued at $68,051,000 after purchasing an additional 1,611,446 shares during the period. Finally, Whale Rock Capital Management LLC acquired a new stake in Square in the 3rd quarter valued at $44,337,000. Institutional investors own 52.05% of the company’s stock.

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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.

Analyst Recommendations for Square (NYSE:SQ)

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