Equities research analysts forecast that Square, Inc. (NYSE:SQ) will post sales of $606.71 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Square’s earnings, with the lowest sales estimate coming in at $600.90 million and the highest estimate coming in at $612.34 million. Square reported sales of $451.92 million in the same quarter last year, which indicates a positive year-over-year growth rate of 34.3%. The business is scheduled to issue its next earnings report on Wednesday, February 28th.
On average, analysts expect that Square will report full year sales of $606.71 million for the current year, with estimates ranging from $2.16 billion to $2.21 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.77 billion per share, with estimates ranging from $2.66 billion to $2.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Square.
Square (NYSE:SQ) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm had revenue of $257.12 million for the quarter, compared to the consensus estimate of $244.95 million. During the same quarter in the previous year, the business earned $0.01 EPS. The company’s revenue was up 44.6% compared to the same quarter last year.
SQ has been the topic of several research analyst reports. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 3rd. Barclays PLC increased their target price on Square from $28.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, November 9th. KeyCorp restated an “overweight” rating on shares of Square in a research report on Tuesday, July 18th. Canaccord Genuity restated a “hold” rating and set a $26.00 target price (up previously from $18.00) on shares of Square in a research report on Wednesday, August 9th. Finally, Credit Suisse Group restated a “neutral” rating and set a $26.00 target price (up previously from $25.00) on shares of Square in a research report on Wednesday, August 9th. Thirteen equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $32.28.
In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total transaction of $13,088,000.00. Following the completion of the sale, the director now directly owns 507,732 shares in the company, valued at $16,612,991.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sarah Friar sold 19,200 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $25.54, for a total transaction of $490,368.00. Following the sale, the chief financial officer now owns 366,103 shares of the company’s stock, valued at $9,350,270.62. The disclosure for this sale can be found here. Insiders have sold 953,600 shares of company stock worth $28,343,040 over the last ninety days. Insiders own 32.68% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Makena Capital Management LLC purchased a new stake in shares of Square during the second quarter worth about $4,561,000. California Public Employees Retirement System boosted its holdings in shares of Square by 10.3% during the second quarter. California Public Employees Retirement System now owns 353,700 shares of the technology company’s stock worth $8,298,000 after purchasing an additional 33,100 shares during the period. Royce & Associates LP boosted its holdings in shares of Square by 55.6% during the second quarter. Royce & Associates LP now owns 235,000 shares of the technology company’s stock worth $5,513,000 after purchasing an additional 84,000 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Square by 285.7% during the second quarter. California State Teachers Retirement System now owns 395,757 shares of the technology company’s stock worth $9,284,000 after purchasing an additional 293,137 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Square by 2.9% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,190,200 shares of the technology company’s stock worth $74,842,000 after purchasing an additional 90,200 shares during the period. Institutional investors own 53.24% of the company’s stock.
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Square (NYSE SQ) opened at $39.98 on Tuesday. Square has a 12 month low of $11.76 and a 12 month high of $40.19. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.
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.
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