Square (NYSE:SQ) Lowered to “Peer Perform” at Wolfe Research

Square (NYSE:SQ) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research note issued on Monday, January 6th, MarketBeat reports. They currently have a $70.00 price objective on the technology company’s stock. Wolfe Research’s price target indicates a potential downside of 0.51% from the stock’s previous close.

SQ has been the subject of a number of other research reports. Berenberg Bank began coverage on Square in a report on Thursday, October 3rd. They set a “hold” rating and a $58.00 price target for the company. Bank of America set a $70.00 target price on Square and gave the stock a “hold” rating in a report on Tuesday, September 24th. Evercore ISI lowered their target price on Square from $50.00 to $37.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Craig Hallum raised Square from a “sell” rating to a “hold” rating and increased their price target for the company from $55.00 to $63.00 in a research note on Wednesday, September 18th. Finally, UBS Group reissued a “buy” rating and issued a $77.00 price objective (down from $81.00) on shares of Square in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.25.

SQ opened at $70.36 on Monday. The business has a fifty day simple moving average of $65.82 and a 200 day simple moving average of $66.06. The company has a market capitalization of $29.29 billion, a PE ratio of 3,518.00, a price-to-earnings-growth ratio of 23.31 and a beta of 3.30. Square has a 1 year low of $54.41 and a 1 year high of $83.20. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 1.68.

Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Square had a positive return on equity of 5.72% and a negative net margin of 1.01%. The business had revenue of $602.00 million during the quarter, compared to the consensus estimate of $596.85 million. During the same period in the previous year, the company posted $0.13 EPS. The firm’s quarterly revenue was up 39.7% on a year-over-year basis. Equities analysts anticipate that Square will post 0.12 earnings per share for the current fiscal year.

In other Square news, insider Alyssa Henry sold 20,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.54, for a total transaction of $1,330,800.00. Following the completion of the transaction, the insider now owns 404,205 shares of the company’s stock, valued at approximately $26,895,800.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline D. Reses sold 82,720 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $63.64, for a total transaction of $5,264,300.80. Following the transaction, the insider now directly owns 248,534 shares of the company’s stock, valued at approximately $15,816,703.76. The disclosure for this sale can be found here. Insiders sold a total of 221,743 shares of company stock valued at $14,142,694 in the last quarter. 21.79% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQ. Assetmark Inc. lifted its position in Square by 67.6% during the second quarter. Assetmark Inc. now owns 523 shares of the technology company’s stock valued at $38,000 after purchasing an additional 211 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of Square by 62.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 538 shares of the technology company’s stock worth $38,000 after acquiring an additional 207 shares during the period. Strategic Wealth Partners Ltd. lifted its stake in shares of Square by 714.3% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 570 shares of the technology company’s stock worth $30,979,000 after acquiring an additional 500 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of Square by 68.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 625 shares of the technology company’s stock worth $39,000 after acquiring an additional 253 shares during the period. Finally, BSW Wealth Partners acquired a new stake in shares of Square in the 2nd quarter worth $46,000. 57.81% of the stock is owned by institutional investors and hedge funds.

Square Company Profile

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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