How Negative is Citigroup on Square Inc (NYSE:SQ) Following Today’s Downgrade? The Target is $38.0

February 15, 2018 - By Louis Casey

  How Negative is Citigroup on Square Inc (NYSE:SQ) Following Today’s Downgrade? The Target is $38.0

Square Inc (NYSE:SQ) Receives a Downgrade

Stock analysts at Citigroup’s equity division lowered the rating for shares of Square Inc (NYSE:SQ) to a Hold on Thursday, 9 November. Citigroup now has a target price of $38.0 on SQ or approximately -14.57 % more downside.

Square, Inc. (NYSE:SQ) Ratings Coverage

Among 39 analysts covering Square Inc (NYSE:SQ), 21 have Buy rating, 1 Sell and 17 Hold. Therefore 54% are positive. Square Inc has $48 highest and $8 lowest target. $27.67’s average target is -37.79% below currents $44.48 stock price. Square Inc had 114 analyst reports since November 20, 2015 according to SRatingsIntel. Morgan Stanley maintained Square, Inc. (NYSE:SQ) on Thursday, August 4 with “Equal-Weight” rating. Credit Suisse upgraded the shares of SQ in report on Wednesday, November 2 to “Outperform” rating. The stock of Square, Inc. (NYSE:SQ) has “Outperform” rating given on Friday, November 10 by Oppenheimer. The stock has “Buy” rating by Stifel Nicolaus on Tuesday, August 23. The company was initiated on Thursday, January 21 by William Blair. RBC Capital Markets maintained Square, Inc. (NYSE:SQ) on Wednesday, July 19 with “Buy” rating. On Wednesday, November 8 the stock rating was maintained by Canaccord Genuity with “Hold”. The firm has “Hold” rating by Canaccord Genuity given on Wednesday, April 13. Wedbush downgraded the stock to “Underperform” rating in Friday, May 6 report. The stock has “Sell” rating by BTIG Research on Monday, November 27.

The stock increased 6.28% or $2.63 during the last trading session, reaching $44.48. About 14.69 million shares traded. Square, Inc. (NYSE:SQ) has risen 107.40% since February 15, 2017 and is uptrending. It has outperformed by 90.70% the S&P500.

Analysts await Square, Inc. (NYSE:SQ) to report earnings on February, 28. They expect $-0.04 earnings per share, 0.00 % or $0.00 from last year’s $-0.04 per share. After $-0.02 actual earnings per share reported by Square, Inc. for the previous quarter, Wall Street now forecasts 100.00 % negative EPS growth.

Square, Inc. develops and provides payment processing, point-of-sale , financial, and marketing services worldwide. The company has market cap of $17.28 billion. It provides Square Point of Sale, a POS application software that offers managed payments solutions and advanced software products, including Square Dashboard, a cloud reporting and analytics tool that provides sellers with real-time data and insights about sales, items, customers, and employees; Square Payroll, which empowers sellers to hire, onboard, and pay employees and the associated taxes; and customer engagement tools that help sellers to enhance their business through digital customer feedback, marketing, and loyalty programs. It currently has negative earnings. The firm also offers in-person/card present payments solutions, such as magstripe readers, contactless and chip readers, and chip card readers; and Square Stand that transforms an iPad into a POS terminal.

More notable recent Square, Inc. (NYSE:SQ) news were published by: Fool.com which released: “Why 2017 Was a Year to Remember for Square, Inc.” on January 30, 2018, also Seekingalpha.com with their article: “An Analysis Of Square’s Revenue Potential” published on February 07, 2018, Reuters.com published: “BRIEF-Walmart Board Of Directors Adds Square Inc CFO Sarah Friar” on February 08, 2018. More interesting news about Square, Inc. (NYSE:SQ) were released by: Usnews.com and their article: “Is Square Taking a Risk With Bitcoin Trades?” published on February 01, 2018 as well as Businesswire.com‘s news article titled: “Walmart Board of Directors Adds Square, Inc. CFO Sarah Friar” with publication date: February 08, 2018.

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