Wall Street analysts forecast that Square, Inc. (NYSE:SQ) will report $536.79 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Square’s earnings, with the highest sales estimate coming in at $541.96 million and the lowest estimate coming in at $533.20 million. Square posted sales of $438.53 million during the same quarter last year, which would indicate a positive year over year growth rate of 22.4%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Square will report full-year sales of $536.79 million for the current year, with estimates ranging from $2.11 billion to $2.16 billion. For the next financial year, analysts expect that the firm will report sales of $2.69 billion per share, with estimates ranging from $2.63 billion to $2.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Square.
Square (NYSE:SQ) last released its earnings results on Wednesday, May 3rd. The technology company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. The firm had revenue of $461.55 million for the quarter, compared to analysts’ expectations of $450.66 million. Square had a negative net margin of 5.02% and a negative return on equity of 15.81%.
A number of research analysts recently issued reports on SQ shares. Vetr raised Square from a “buy” rating to a “strong-buy” rating and set a $26.28 price target for the company in a report on Monday, July 10th. Citigroup Inc. lifted their price target on Square from $23.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 6th. Deutsche Bank AG lifted their price target on Square from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, May 15th. BTIG Research reaffirmed a “buy” rating and issued a $20.00 price target on shares of Square in a report on Tuesday, March 28th. Finally, Tigress Financial started coverage on Square in a report on Friday, May 19th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $21.12.
Square (NYSE:SQ) traded up 0.22% during trading on Friday, reaching $26.81. 2,467,222 shares of the company’s stock traded hands. The company’s market capitalization is $10.03 billion. The firm’s 50 day moving average is $24.49 and its 200-day moving average is $19.05. Square has a 12 month low of $9.75 and a 12 month high of $26.90.
In related news, insider Alyssa Henry sold 5,406 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $18.23, for a total value of $98,551.38. Following the completion of the transaction, the insider now directly owns 475,238 shares in the company, valued at approximately $8,663,588.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $26.39, for a total value of $1,013,376.00. Following the completion of the transaction, the chief financial officer now owns 368,791 shares of the company’s stock, valued at $9,732,394.49. The disclosure for this sale can be found here. Insiders have sold a total of 1,315,438 shares of company stock valued at $27,664,892 over the last 90 days. Corporate insiders own 32.68% of the company’s stock.
Several institutional investors have recently modified their holdings of SQ. Russell Investments Group Ltd. raised its position in shares of Square by 125.3% in the second quarter. Russell Investments Group Ltd. now owns 428,245 shares of the technology company’s stock valued at $10,047,000 after buying an additional 238,201 shares in the last quarter. Insight Capital Research & Management Inc. raised its position in shares of Square by 2.8% in the second quarter. Insight Capital Research & Management Inc. now owns 144,631 shares of the technology company’s stock valued at $3,393,000 after buying an additional 3,940 shares in the last quarter. Westwood Management Corp IL raised its position in shares of Square by 23.5% in the second quarter. Westwood Management Corp IL now owns 105,000 shares of the technology company’s stock valued at $2,463,000 after buying an additional 20,000 shares in the last quarter. State Treasurer State of Michigan purchased a new position in Square during the second quarter worth $37,301,000. Finally, Aperio Group LLC purchased a new position in Square during the second quarter worth $225,000. Institutional investors and hedge funds own 74.91% of the company’s stock.
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.
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