Square, Inc. (NYSE:SQ) – Equities researchers at KeyCorp decreased their Q3 2020 earnings per share estimates for Square in a report released on Monday, July 15th. KeyCorp analyst J. Beck now anticipates that the technology company will earn $0.12 per share for the quarter, down from their prior forecast of $0.13. KeyCorp also issued estimates for Square’s FY2020 earnings at $0.32 EPS.
SQ has been the subject of a number of other research reports. ValuEngine upgraded shares of WEX from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. Needham & Company LLC increased their price target on shares of Alteryx to $108.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Wedbush reiterated a “neutral” rating on shares of Square in a research note on Monday, July 1st. Finally, Macquarie increased their price target on shares of Shopify to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $86.65.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.09). The business had revenue of $489.00 million for the quarter, compared to analyst estimates of $479.63 million. Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. The firm’s revenue for the quarter was up 59.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS.
In other Square news, insider Jacqueline D. Reses sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $68.35, for a total transaction of $341,750.00. Following the completion of the transaction, the insider now directly owns 413,593 shares in the company, valued at approximately $28,269,081.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alyssa Henry sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $64.20, for a total transaction of $1,284,000.00. Following the transaction, the insider now owns 459,793 shares of the company’s stock, valued at $29,518,710.60. The disclosure for this sale can be found here. Insiders sold a total of 77,249 shares of company stock valued at $5,486,225 in the last quarter. Insiders own 21.79% of the company’s stock.
Large investors have recently bought and sold shares of the business. Lenox Wealth Management Inc. purchased a new position in Square during the 1st quarter valued at about $25,000. Legacy Advisors LLC purchased a new position in Square during the 1st quarter valued at about $27,000. FTB Advisors Inc. purchased a new position in Square during the 1st quarter valued at about $27,000. Larson Financial Group LLC increased its holdings in Square by 130.7% during the 2nd quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock valued at $27,000 after acquiring an additional 213 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in Square during the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 51.96% of the company’s stock.
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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