Buckingham Downgrades Square Inc to Hold

By Carrie Williams

Square Inc (NYSE: SQ) received a Hold rating and a $65 price target from Buckingham analyst Chris Brendler today. The company’s shares closed yesterday at $63.21, close to its 52-week high of $64.08.

Brendler has an average return of 44.8% when recommending Square Inc.

According to TipRanks.com, Brendler is ranked #824 out of 4829 analysts.

Currently, the analyst consensus on Square Inc is Moderate Buy and the average price target is $57.13, representing a -9.6% downside.

In a report issued on June 6, Credit Suisse also maintained a Hold rating on the stock with a $44 price target.

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Based on Square Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $23.99 million. In comparison, last year the company had a GAAP net loss of $15.09 million.

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Square, Inc. engages in the provision of credit card payment processing solutions. The firm offers additional point-of-sale services, financial services, and marketing services. The company was founded by Jack Dorsey and Jim McKelvey in February 2009 and is headquartered in San Francisco, CA.