Square (SQ) Research Coverage Started at Sanford C. Bernstein

Sanford C. Bernstein began coverage on shares of Square (NYSE:SQ) in a research report released on Tuesday morning, AnalystRatings.com reports. The brokerage issued a market perform rating and a $80.00 target price on the technology company’s stock.

A number of other analysts have also recently commented on the company. Nomura reaffirmed a buy rating and set a $110.00 price target (up previously from $108.00) on shares of Square in a research report on Thursday, January 24th. KeyCorp lowered their price target on Square from $115.00 to $110.00 and set an overweight rating for the company in a research report on Thursday, February 28th. Tigress Financial reaffirmed a buy rating on shares of Square in a research report on Wednesday, December 19th. Wolfe Research raised Square from a market perform rating to an outperform rating in a research report on Friday, January 4th. Finally, Zacks Investment Research raised Square from a hold rating to a buy rating and set a $63.00 price target for the company in a research report on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Square has an average rating of Buy and a consensus target price of $84.82.

Square stock opened at $70.74 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $29.69 billion, a PE ratio of 3,537.00, a price-to-earnings-growth ratio of 20.29 and a beta of 3.64. Square has a 1-year low of $43.72 and a 1-year high of $101.15.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, February 27th. The technology company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.04. The firm had revenue of $464.00 million during the quarter, compared to analysts’ expectations of $453.88 million. Square had a positive return on equity of 0.86% and a negative net margin of 1.17%. The business’s quarterly revenue was up 64.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. As a group, equities research analysts expect that Square will post 0.15 EPS for the current fiscal year.

In related news, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $70.33, for a total value of $7,246,451.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ajmere Dale sold 2,048 shares of Square stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $80.00, for a total value of $163,840.00. Following the completion of the transaction, the chief accounting officer now owns 79,985 shares of the company’s stock, valued at approximately $6,398,800. The disclosure for this sale can be found here. In the last three months, insiders sold 1,221,781 shares of company stock valued at $91,290,610. Insiders own 27.99% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Legacy Advisors LLC purchased a new stake in Square during the 1st quarter worth approximately $27,000. Pearl River Capital LLC purchased a new stake in Square during the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. purchased a new stake in Square during the 4th quarter worth approximately $28,000. TCI Wealth Advisors Inc. increased its stake in Square by 171.5% during the 4th quarter. TCI Wealth Advisors Inc. now owns 524 shares of the technology company’s stock worth $29,000 after buying an additional 331 shares in the last quarter. Finally, Doyle Wealth Management purchased a new stake in Square during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 52.15% of the company’s stock.

About Square

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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