Square (NYSE:SQ) Coverage Initiated at Goldman Sachs Group

Equities researchers at Goldman Sachs Group began coverage on shares of Square (NYSE:SQ) in a research note issued to investors on Tuesday, The Fly reports. The firm set a “neutral” rating and a $133.00 price target on the technology company’s stock. Goldman Sachs Group’s target price would indicate a potential upside of 12.09% from the stock’s current price.

A number of other research firms also recently weighed in on SQ. BTIG Research restated a “hold” rating on shares of Square in a research note on Wednesday, May 6th. Bank of America downgraded shares of Square from a “neutral” rating to an “underperform” rating and set a $84.00 price target on the stock. in a research note on Monday, May 18th. Stephens downgraded shares of Square from an “overweight” rating to an “equal weight” rating in a research note on Monday, May 18th. They noted that the move was a valuation call. Oppenheimer began coverage on shares of Square in a research report on Wednesday, May 6th. They set a “hold” rating on the stock. Finally, Compass Point downgraded shares of Square from a “neutral” rating to a “sell” rating and set a $50.00 target price on the stock. in a research report on Tuesday, April 28th. Six research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seventeen have given a buy rating to the company. Square has an average rating of “Hold” and an average target price of $82.63.

SQ stock opened at $118.65 on Tuesday. The company’s 50-day moving average price is $99.14 and its two-hundred day moving average price is $75.16. Square has a 12 month low of $32.33 and a 12 month high of $133.81. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 1.17. The firm has a market cap of $56.26 billion, a P/E ratio of 188.34 and a beta of 2.69.

Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). Square had a net margin of 5.99% and a return on equity of 0.44%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business posted ($0.06) earnings per share. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. Equities analysts predict that Square will post -0.55 EPS for the current year.

In other Square news, CAO Ajmere Dale sold 6,106 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $90.78, for a total transaction of $554,302.68. Following the completion of the sale, the chief accounting officer now owns 57,021 shares in the company, valued at approximately $5,176,366.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sivan Whiteley sold 2,013 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $107.00, for a total transaction of $215,391.00. Following the sale, the insider now owns 140,989 shares of the company’s stock, valued at approximately $15,085,823. The disclosure for this sale can be found here. Insiders have sold a total of 48,574 shares of company stock valued at $3,473,975 in the last 90 days. 19.90% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Americana Partners LLC bought a new stake in Square during the 4th quarter valued at $29,000. Balentine LLC bought a new stake in shares of Square in the 1st quarter worth $25,000. Shine Investment Advisory Services Inc. grew its stake in shares of Square by 316.7% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 380 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in shares of Square by 484.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 561 shares of the technology company’s stock worth $29,000 after acquiring an additional 465 shares in the last quarter. Finally, Atticus Wealth Management LLC grew its stake in shares of Square by 114.5% in the 1st quarter. Atticus Wealth Management LLC now owns 562 shares of the technology company’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 62.65% of the company’s stock.

About Square

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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