Rosenblatt Securities Begins Coverage on Square (NYSE:SQ)

Rosenblatt Securities assumed coverage on shares of Square (NYSE:SQ) in a research report report published on Monday morning, The Fly reports. The brokerage issued a neutral rating and a $68.00 price target on the technology company’s stock.

Several other equities research analysts have also recently commented on the company. Cantor Fitzgerald reissued an overweight rating on shares of Square in a research note on Monday, August 5th. Zacks Investment Research raised Square from a hold rating to a buy rating and set a $77.00 price target for the company in a research note on Tuesday, May 7th. Raymond James raised Square from an underperform rating to a market perform rating and set a $74.15 price target for the company in a research note on Tuesday, July 9th. BMO Capital Markets boosted their price target on Square from $91.00 to $92.00 and gave the company a market perform rating in a research note on Monday, August 5th. Finally, Nomura boosted their price target on Square from $90.00 to $100.00 and gave the company a buy rating in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nineteen have issued a buy rating to the company’s stock. Square has a consensus rating of Hold and a consensus target price of $83.91.

NYSE:SQ opened at $64.68 on Monday. The stock has a market cap of $27.37 billion, a PE ratio of 3,234.00, a price-to-earnings-growth ratio of 21.78 and a beta of 3.31. The stock’s 50-day moving average is $73.20 and its two-hundred day moving average is $72.29. Square has a fifty-two week low of $49.82 and a fifty-two week high of $101.15. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49.

Square (NYSE:SQ) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.20. The business had revenue of $563.00 million during the quarter, compared to analysts’ expectations of $557.67 million. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The firm’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. On average, equities research analysts anticipate that Square will post 0.12 earnings per share for the current year.

In related news, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $61.86, for a total value of $1,237,200.00. Following the completion of the sale, the insider now directly owns 442,168 shares in the company, valued at approximately $27,352,512.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline D. Reses sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $73.26, for a total value of $366,300.00. Following the completion of the sale, the insider now owns 399,914 shares of the company’s stock, valued at $29,297,699.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,249 shares of company stock valued at $5,506,825. Corporate insiders own 21.79% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Cresset Asset Management LLC lifted its holdings in shares of Square by 6.6% during the second quarter. Cresset Asset Management LLC now owns 2,940 shares of the technology company’s stock worth $213,000 after buying an additional 181 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its position in shares of Square by 8.8% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 4,238 shares of the technology company’s stock valued at $307,000 after purchasing an additional 342 shares during the period. Griffin Asset Management Inc. bought a new stake in shares of Square during the second quarter valued at approximately $246,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Square by 39.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 75,523 shares of the technology company’s stock valued at $5,478,000 after purchasing an additional 21,333 shares during the period. Finally, McGowan Group Asset Management Inc. increased its position in shares of Square by 11.9% during the second quarter. McGowan Group Asset Management Inc. now owns 4,521 shares of the technology company’s stock valued at $328,000 after purchasing an additional 481 shares during the period. Institutional investors own 52.21% of the company’s stock.

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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