Stifel Nicolaus Reiterates “Buy” Rating for Square Inc (SQ)

Stifel Nicolaus restated their buy rating on shares of Square Inc (NYSE:SQ) in a research report report published on Thursday, May 4th. Stifel Nicolaus currently has a $21.00 target price on the technology company’s stock, up from their prior target price of $18.00.

“We maintain our positive view as Square builds a uniquely positioned micro / SMB payment and services ecosystem.”,” the firm’s analyst wrote.

Several other research firms also recently commented on SQ. Compass Point boosted their target price on Square from $14.00 to $19.00 and gave the stock a buy rating in a report on Tuesday, January 10th. Needham & Company LLC boosted their target price on Square from $17.00 to $20.00 and gave the stock a buy rating in a report on Thursday, February 23rd. Royal Bank of Canada boosted their target price on Square from $17.00 to $18.00 and gave the stock an outperform rating in a report on Thursday, February 23rd. Vetr upgraded Square from a buy rating to a strong-buy rating and set a $20.83 price target for the company in a research note on Wednesday, May 3rd. Finally, Zacks Investment Research upgraded Square from a hold rating to a strong-buy rating and set a $20.00 price target for the company in a research note on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $18.51.

Shares of Square (NYSE:SQ) traded up 1.17% during mid-day trading on Thursday, reaching $19.91. 5,086,741 shares of the company’s stock traded hands. The company’s market cap is $7.45 billion. The company has a 50 day moving average of $18.32 and a 200 day moving average of $15.51. Square has a 12 month low of $8.42 and a 12 month high of $20.69.

Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, May 3rd. The technology company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. Square had a negative return on equity of 31.99% and a negative net margin of 12.55%. The company had revenue of $461.55 million for the quarter, compared to analyst estimates of $450.66 million. Analysts expect that Square will post ($0.19) earnings per share for the current fiscal year.

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In other Square news, major shareholder Ventures Iii L.P. Khosla sold 1,000,000 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $17.30, for a total transaction of $17,300,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 90,000 shares of the stock in a transaction on Tuesday, April 11th. The shares were sold at an average price of $16.78, for a total value of $1,510,200.00. Following the sale, the director now directly owns 186,308 shares in the company, valued at approximately $3,126,248.24. The disclosure for this sale can be found here. Insiders have sold a total of 3,183,338 shares of company stock worth $56,299,960 over the last 90 days. 42.60% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Square by 72.1% in the first quarter. Bank of New York Mellon Corp now owns 14,480,815 shares of the technology company’s stock worth $250,229,000 after buying an additional 6,065,730 shares during the period. FMR LLC raised its position in shares of Square by 24.4% in the first quarter. FMR LLC now owns 11,124,126 shares of the technology company’s stock worth $192,225,000 after buying an additional 2,183,127 shares during the period. Vanguard Group Inc. raised its position in shares of Square by 2.3% in the first quarter. Vanguard Group Inc. now owns 10,975,970 shares of the technology company’s stock worth $189,665,000 after buying an additional 241,563 shares during the period. Capital World Investors raised its position in shares of Square by 131.4% in the third quarter. Capital World Investors now owns 10,813,575 shares of the technology company’s stock worth $126,086,000 after buying an additional 6,140,745 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Square by 641.8% in the first quarter. Renaissance Technologies LLC now owns 8,578,500 shares of the technology company’s stock worth $148,236,000 after buying an additional 7,422,000 shares during the period. Institutional investors own 24.28% of the company’s stock.

About Square

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.

12 Month Chart for NYSE:SQ

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