Square (NYSE:SQ) Receives New Coverage from Analysts at UBS Group

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UBS Group began coverage on shares of Square (NYSE:SQ) in a research note released on Monday, The Fly reports. The firm issued a buy rating and a $81.00 target price on the technology company’s stock.

A number of other research analysts have also recently commented on SQ. BTIG Research reiterated a sell rating and issued a $30.00 price objective on shares of Square in a report on Sunday, August 4th. Evercore ISI set a $50.00 price objective on Square and gave the company a sell rating in a report on Tuesday, September 24th. Raymond James upgraded Square from an underperform rating to a market perform rating and set a $74.15 price objective on the stock in a report on Tuesday, July 9th. Craig Hallum upgraded Square from a sell rating to a hold rating and upped their price objective for the company from $55.00 to $63.00 in a report on Wednesday, September 18th. Finally, SunTrust Banks upgraded Square from a hold rating to a buy rating in a report on Tuesday, September 3rd. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $74.39.

Shares of Square stock opened at $61.83 on Monday. The stock has a market cap of $26.29 billion, a P/E ratio of 3,091.50, a P/E/G ratio of 22.13 and a beta of 3.40. The stock’s 50 day simple moving average is $60.75 and its 200-day simple moving average is $68.46. Square has a 1-year low of $49.82 and a 1-year high of $83.20. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49.

Square (NYSE:SQ) last issued its earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.20. The business had revenue of $563.00 million for the quarter, compared to analysts’ expectations of $557.67 million. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The business’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. As a group, research analysts expect that Square will post 0.11 EPS for the current fiscal year.

In related news, insider Alyssa Henry sold 20,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $61.86, for a total value of $1,237,200.00. Following the transaction, the insider now owns 442,168 shares of the company’s stock, valued at $27,352,512.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline D. Reses sold 5,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.83, for a total value of $409,150.00. Following the completion of the transaction, the insider now directly owns 373,984 shares in the company, valued at approximately $30,603,110.72. The disclosure for this sale can be found here. Insiders have sold 47,048 shares of company stock worth $2,979,489 in the last ninety days. Corporate insiders own 21.79% of the company’s stock.

A number of large investors have recently bought and sold shares of SQ. Coatue Management LLC purchased a new position in Square in the second quarter valued at $319,388,000. Bares Capital Management Inc. grew its holdings in shares of Square by 542.2% during the second quarter. Bares Capital Management Inc. now owns 3,616,765 shares of the technology company’s stock worth $262,324,000 after purchasing an additional 3,053,548 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Square during the second quarter worth about $204,968,000. Viking Global Investors LP purchased a new position in shares of Square during the second quarter worth about $192,729,000. Finally, Vanguard Group Inc. grew its holdings in shares of Square by 8.3% during the second quarter. Vanguard Group Inc. now owns 24,838,878 shares of the technology company’s stock worth $1,801,564,000 after purchasing an additional 1,910,823 shares during the last quarter. 55.77% of the stock is currently owned by hedge funds and other institutional investors.

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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The Fly

Analyst Recommendations for Square (NYSE:SQ)

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