Square, Inc. (NYSE:SQ) – Investment analysts at William Blair issued their Q2 2018 earnings per share estimates for Square in a report released on Wednesday. William Blair analyst R. Napoli expects that the technology company will earn $0.01 per share for the quarter. William Blair also issued estimates for Square’s FY2019 earnings at $0.11 EPS.
A number of other brokerages also recently commented on SQ. Jefferies Group LLC boosted their price objective on shares of Square from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. Vetr downgraded shares of Square from a “strong-buy” rating to a “buy” rating and set a $43.40 price objective for the company. in a research note on Monday. Oppenheimer Holdings, Inc. boosted their price objective on shares of Square from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays PLC boosted their price objective on shares of Square from $28.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, November 9th. Finally, Canaccord Genuity boosted their price objective on shares of Square from $26.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, November 9th. Thirteen equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $32.28.
Shares of Square (NYSE:SQ) traded up $0.03 during trading hours on Monday, reaching $40.01. 2,872,413 shares of the company were exchanged, compared to its average volume of 7,285,865. Square has a 52 week low of $11.76 and a 52 week 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 (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $257.12 million during the quarter, compared to the consensus estimate of $244.95 million. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. Square’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share.
In other Square news, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $32.81, for a total value of $1,259,904.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $32.72, for a total transaction of $13,088,000.00. Following the completion of the transaction, the director now owns 507,732 shares of the company’s stock, valued at approximately $16,612,991.04. The disclosure for this sale can be found here. Insiders have sold 953,600 shares of company stock valued at $28,343,040 over the last 90 days. 32.68% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the business. FMR LLC raised its position in shares of Square by 114.7% in the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after acquiring an additional 12,764,491 shares during the period. Vanguard Group Inc. raised its position in shares of Square by 73.4% in the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after acquiring an additional 8,058,892 shares during the period. Capital World Investors raised its position in shares of Square by 32.8% in the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock worth $365,925,000 after acquiring an additional 3,853,000 shares during the period. Allianz Asset Management GmbH raised its position in shares of Square by 31.0% in the third quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock worth $383,235,000 after acquiring an additional 3,147,558 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Square by 5.8% in the second quarter. Renaissance Technologies LLC now owns 9,076,600 shares of the technology company’s stock worth $212,937,000 after acquiring an additional 498,100 shares during the period. Institutional investors and hedge funds own 53.24% 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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