Square, Inc. (SQ) Earns “Buy” Rating from Deutsche Bank AG

Square, Inc. (NYSE:SQ)‘s stock had its “buy” rating reissued by equities research analysts at Deutsche Bank AG in a note issued to investors on Wednesday, August 9th. They presently have a $28.00 target price on the technology company’s stock. Deutsche Bank AG’s price objective would indicate a potential upside of 12.77% from the stock’s previous close.

SQ has been the subject of a number of other research reports. BTIG Research reiterated a “buy” rating and set a $20.00 price target on shares of Square in a research note on Friday, May 5th. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, August 1st. Vetr downgraded Square from a “strong-buy” rating to a “buy” rating and set a $19.66 price target for the company. in a research note on Thursday, April 20th. Mizuho began coverage on Square in a research note on Wednesday, June 28th. They set a “buy” rating and a $28.00 price target for the company. Finally, Jefferies Group LLC reissued a “buy” rating and set a $28.00 target price on shares of Square in a research report on Thursday, July 6th. Eleven equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Square has an average rating of “Buy” and a consensus target price of $24.61.

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

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

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In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total transaction of $10,008,000.00. Following the completion of the transaction, the director now directly owns 507,385 shares in the company, valued at approximately $12,694,772.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was 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 of the company’s stock, valued at $8,284,258.07. The disclosure for this sale can be found here. Insiders have sold a total of 933,400 shares of company stock worth $22,420,380 in the last three months. Insiders own 32.68% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SQ. Nationwide Fund Advisors raised its position in shares of Square by 164.4% in the first quarter. Nationwide Fund Advisors now owns 791,120 shares of the technology company’s stock valued at $13,671,000 after buying an additional 491,905 shares during the period. Columbus Circle Investors raised its position in shares of Square by 0.8% in the first quarter. Columbus Circle Investors now owns 1,944,440 shares of the technology company’s stock valued at $33,600,000 after buying an additional 14,691 shares during the period. Quantitative Systematic Strategies LLC bought a new position in shares of Square during the first quarter valued at about $301,000. Boston Advisors LLC raised its position in shares of Square by 112.7% in the first quarter. Boston Advisors LLC now owns 774,365 shares of the technology company’s stock valued at $13,381,000 after buying an additional 410,231 shares during the period. Finally, Cullinan Associates Inc. raised its position in shares of Square by 264.6% in the first quarter. Cullinan Associates Inc. now owns 82,400 shares of the technology company’s stock valued at $1,424,000 after buying an additional 59,800 shares during the period. Institutional investors own 68.74% of the company’s stock.

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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