Square’s (SQ) Neutral Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reaffirmed their neutral rating on shares of Square, Inc. (NYSE:SQ) in a report published on Wednesday, August 9th. The firm currently has a $26.00 price target on the technology company’s stock, up from their prior price target of $25.00.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank AG reiterated a buy rating and set a $28.00 price target on shares of Square in a research report on Wednesday, August 9th. Royal Bank Of Canada reiterated an outperform rating and set a $31.00 price target (up previously from $24.00) on shares of Square in a research report on Wednesday, August 9th. Canaccord Genuity reiterated a hold rating and set a $26.00 price target (up previously from $18.00) on shares of Square in a research report on Wednesday, August 9th. Barclays PLC reiterated an overweight rating and set a $28.00 price target (up previously from $21.00) on shares of Square in a research report on Wednesday, August 9th. Finally, BidaskClub cut shares of Square from a strong-buy rating to a buy rating in a research report on Saturday, August 5th. Eleven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $24.61.

Square (SQ) traded up 1.18% on Wednesday, reaching $24.83. The company’s stock had a trading volume of 5,325,691 shares. The firm has a 50 day moving average price of $25.47 and a 200 day moving average price of $20.44. The stock’s market capitalization is $9.53 billion. Square has a 52 week low of $10.88 and a 52 week high of $27.97.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $240 million during the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The company’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.08) EPS. On average, equities analysts anticipate that Square will post $0.24 EPS for the current year.

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In other Square news, Director James Morgan Jr. Mckelvey sold 90,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $23.36, for a total value of $2,102,400.00. Following the transaction, the director now directly owns 186,308 shares in the company, valued at $4,352,154.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $22.09, for a total transaction of $848,256.00. Following the completion of the transaction, the chief financial officer now owns 375,023 shares in the company, valued at $8,284,258.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 933,400 shares of company stock worth $22,420,380. 32.68% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. increased its position in Square by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock valued at $175,000 after buying an additional 30 shares in the last quarter. Raymond James Trust N.A. increased its position in Square by 1.3% in the second quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock valued at $357,000 after buying an additional 193 shares in the last quarter. Neuberger Berman Group LLC increased its position in Square by 2.1% in the second quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock valued at $240,000 after buying an additional 212 shares in the last quarter. Stifel Financial Corp increased its position in Square by 1.8% in the first quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock valued at $461,000 after buying an additional 473 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Square by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock valued at $1,084,000 after buying an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 68.74% 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.

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