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SQ

Square

$46.56

0.01 (0.02%)

, FDC

First Data

$15.51

-0.42 (-2.64%)

15:05
02/27/18
02/27
15:05
02/27/18
15:05

On The Fly: What to watch in Square earnings report

Square (SQ) is scheduled to report results of its fourth fiscal quarter after the market close on February 27, with a conference call scheduled for 5:00 pm EDT. What to watch for: 1. OUTLOOK: During the company's last earnings call, Square said it sees fourth quarter adjusted earnings per share of 5c-6c, and fourth quarter adjusted revenue of $262M-$265M. The company also raised its FY17 adjusted earnings per share view to 24c-25c from 21c-23c, and raised its FY17 adjusted revenue view to $963M-$966M from $925M-$935M. 2. BITCOIN: On November 15, Square announced that it was offering users the option to buy, sell or hold cryptocurrency on its Cash app. Commenting on the news, Credit Suisse analyst Paul Condra said that while the impact of Square adding the bitcoin feature is uncertain, it could place Square in an early-mover position as a mainstream fin-tech company providing cryptocurrency services. The analyst added that the company is also well-positioned to allow digital currency transactions at the physical point of sale. Condra reiterated a Neutral rating and $31 price target on the shares. 3. INCREASING COMPETITION: Also in November, BTIG analyst Mark Palmer downgraded Square to Sell from Neutral, saying he believes the stock's valuation at the time reflected "emphatic and unimpeded growth" but failed to factor in the risks facing the company from increasing competition from First Data's (FDC) Clover, Vantiv (WP) and others. Other concerns, such as macroeconomic and credit-related risks, "did not go away when some investors suddenly viewed its shares as a play on a trendy cryptocurrency" following the company's confirmation that it is allowing users to buy and sell bitcoin using its app, Palmer told investors. 4. 'ANOTHER PHENOMENAL YEAR': On January 19, Nomura Instinet analyst Dan Dolev raised his price target for Square to $64, saying a "looming positive inflection" in gross payment volume growth can help "ensure that 2018 will be yet another phenomenal year" for Square. Dolev also noted that he believes accelerating share gains from payment peers and "relentless disruption of services" like payroll and human resource will make Square a very different company in 10 years. The analyst reiterated a Buy rating on Square's shares. 5. NEW PRODUCTS, REVENUE GROWTH: Back in November, Evercore ISI analyst Stephen Richardson upgraded Square to Outperform and raised his price target to $51 from $25. Following a meeting with CFO Sarah Friar, the analyst said he believes Square's new products, with omni-channel capabilities, should help its upmarket progression. Richardson also raised his revenue growth estimate for 2018 to 40% versus consensus of 31% and 2019 to 35% versus consensus of 28%.

SQ

Square

$46.56

0.01 (0.02%)

FDC

First Data

$15.51

-0.42 (-2.64%)

WP

Worldpay

$77.99

0.14 (0.18%)

  • 27

    Feb

  • 27

    Feb

  • 28

    Feb

  • 30

    May

SQ Square
$46.56

0.01 (0.02%)

01/04/18
BUCK
01/04/18
INITIATION
Target $42
BUCK
Buy
Square initiated with a Buy at Buckingham
Buckingham analyst Chris Brendler initiated Square with a Buy and $42 price target saying it unique tech disruptor that is in the early stages of its global opportunity. Brendler said Square has a dominant SMB-focused payments franchise and high-margin software solutions scaling rapidly, which should continue to drive recent momentum.
02/21/18
KEYB
02/21/18
NO CHANGE
Target $52
KEYB
Overweight
Square price target raised to $52 from $40 at KeyBanc
KeyBanc analyst Josh Beck raised his price target for Square to $52 from $40 and says he would be a buyer of the stock as he believes the potential of the platform remains undervalued on an EV/EBITDA/G basis. The analyst expects a strong Q4 beat, followed by a conservative, yet beatable guidance factoring in reinvestment. He reiterates an Overweight rating on the shares.
01/19/18
NOMU
01/19/18
NO CHANGE
Target $64
NOMU
Buy
Square price target raised to $64 from $48 at Nomura Instinet
Nomura Instinet analyst Dan Dolev raised his price target for Square to $64, which represents 59% potential upside from current levels. A "looming positive inflection" in gross payment volume growth can help "ensure that 2018 will be yet another phenomenal year" for Square, Dolev tells investors in a research note. Accelerating share gains from payment peers and "relentless disruption of services" like payroll and human resource will make Square a very different company in 10 years, the analyst contends. He believes little of this upside is evident using conventional valuation methodologies. The analyst keeps a Buy rating on Square.
01/04/18
01/04/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Square (SQ) initiated with a Buy at Buckingham. 2. Tyme Technologies (TYME) initiated with a Buy at Canaccord. 3. Visteon (VC) initiated with a Buy at Guggenheim. 4. Core-Mark (CORE) initiated with an Outperform at William Blair. 5. PJT Partners (PJT) initiated with a Neutral at Buckingham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
FDC First Data
$15.51

-0.42 (-2.64%)

01/18/18
01/18/18
UPGRADE
Target $20.5

Buy
BofA/Merrill sees 'great value' in First Data, upgrades to Buy
As previously reported, BofA Merrill Lynch analyst Jason Kupferberg upgraded First Data to Buy from Neutral, stating that he believes growth can re-accelerate this year in its important North America Global Business Services segment. The analyst, who also believes the company's de-leveraging plans are on track, sees "great value" in the stock at its current valuation. Kupferberg raised his price target on First Data shares to $20.50 from $19.50.
01/18/18
BOFA
01/18/18
UPGRADE
BOFA
Buy
First Data upgraded to Buy from Neutral at BofA/Merrill
02/14/18
BARD
02/14/18
UPGRADE
Target $22
BARD
Outperform
First Data upgraded to Outperform from Neutral at Baird
Baird analyst David Koning upgraded First Data to Outperform from Neutral. He maintains a $22 price target on the shares.
01/19/18
OPCO
01/19/18
NO CHANGE
Target $121
OPCO
Outperform
Global Payments price target raised to $121 from $110 at Oppenheimer
Oppenheimer analyst Glenn Greene raised his price target for Global Payments (GPN) to $121 saying he remains optimistic on the company's organic growth and margin opportunities. The analyst continues to like the merchant acquirer group, Global Payments, First Data (FDC) and Worldpay (WP) heading into 2018. He also raised his price target for First Data to $23 from $21 and for Worldpay to $85 from $77. Greene keeps Outperform ratings on all three names.
WP Worldpay
$77.99

0.14 (0.18%)

01/22/18
FBCO
01/22/18
INITIATION
Target $87
FBCO
Outperform
Worldpay reinstated with an Outperform at Credit Suisse
Credit Suisse analyst Paul Condra reinstated Worldpay with an Outperform rating and $87 price target.
01/22/18
MSCO
01/22/18
INITIATION
Target $93
MSCO
Overweight
Worldpay resumed with an Overweight at Morgan Stanley
Morgan Stanley analyst Vasundhara Govil resumed coverage of Worldpay with an Overweight rating and $93 price target, stating that the merger of the former Worldpay with Vantiv yields significant cost synergies, a stronger e-commerce offering and avenues for meaningful cross-selling.
01/22/18
CANT
01/22/18
NO CHANGE
Target $89
CANT
Overweight
Worldpay price target raised to $89 from $79 at Cantor Fitzgerald
Cantor Fitzgerald analyst Joseph Foresi raised his price target for Worldpay to $89 saying the merger increases the company's competitive positioning, may accelerate growth rates, and is accretive to earnings in 2019. The analyst maintains an Overweight rating on the shares.

TODAY'S FREE FLY STORIES

FNWB

First Northwest Bancorp

$16.11

0.36 (2.29%)

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FCX

Freeport McMoRan

$15.75

-0.05 (-0.32%)

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Freeport McMoRan CAO Michael Arnold to retire »

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XLE

Energy Select Sector SPDR

$74.87

-0.24 (-0.32%)

, XLU

Utilities SPDR

$52.28

-0.39 (-0.74%)

17:39
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$52.28

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IYR

DJ US Real Estate Index Fund

$80.23

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Consumer Staples Sector SPDR

$52.84

0.3 (0.57%)

XLY

Consumer Discretionary Sector SPDR

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S&P Select Materials SPDR

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XLF

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0.065 (0.24%)

XLV

Health Care Select Sector SPDR

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XLK

Technology Select Sector SPDR

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XLI

Industrial Select Sector SPDR

$74.44

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GLD

SPDR Gold Trust

$116.56

0.74 (0.64%)

SLV

iShares Silver Trust

$14.59

0.18 (1.25%)

USO

United States Oil Fund

$14.15

0.025 (0.18%)

UNG

United States Natural Gas Fund

$22.38

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HYG

iShares iBoxx $ High Yield Corporate Bond

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0.03 (0.04%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$115.27

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TLT

iShares 20+ Year Treasury Bond Fund

$120.78

-1.46 (-1.19%)

IEF

iShares 7-10 Year Treasury Bond ETF

$102.21

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SHY

iShares 1-3 Year Treasury Bond

$83.26

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iShares Russell 1000 Value

$123.07

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iShares Russell 1000 Growth

$149.41

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XRX

Xerox

$25.10

-0.095 (-0.38%)

, FUJIY

Fujifilm

$0.00

(0.00%)

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Fujifilm

$0.00

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STON

StoneMor Partners

$3.61

-0.015 (-0.41%)

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Breaking Hot Stocks news story on StoneMor Partners »

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TEF

Telefonica

$8.70

0.07 (0.81%)

17:11
07/20/18
07/20
17:11
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17:11
Downgrade
Telefonica rating change at Goldman Sachs »

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SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

, USO

United States Oil Fund

$14.15

0.025 (0.18%)

17:04
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General news
Weekly CFTC Commitment of Traders highlights »

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SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

USO

United States Oil Fund

$14.15

0.025 (0.18%)

GLD

SPDR Gold Trust

$116.56

0.74 (0.64%)

FXE

Euro Currency Trust

$112.46

0.83 (0.74%)

FXC

CurrencyShares Canadian Dollar Trust

$75.17

0.81 (1.09%)

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CZWI

Citizens Community Bancorp

$14.15

(0.00%)

17:02
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17:02
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17:02
Syndicate
Breaking Syndicate news story on Citizens Community Bancorp »

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PKD

Parker Drilling

$0.30

-0.0044 (-1.46%)

17:01
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Hot Stocks
Breaking Hot Stocks news story on Parker Drilling »

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  • 02

    Aug

RSLS

ReShape Lifesciences

$1.47

-0.02 (-1.34%)

17:00
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Breaking Hot Stocks news story on ReShape Lifesciences  »

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BOX

Box

$26.13

-0.26 (-0.99%)

16:57
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Box initiated at First Analysis »

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ALDX

Aldeyra

$7.95

-0.15 (-1.85%)

16:53
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GLRE

Greenlight Capital Re

$14.00

-0.15 (-1.06%)

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RVI

Retail Value

$34.56

0.2 (0.58%)

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LECO

Lincoln Electric

$92.26

0.64 (0.70%)

, ROK

Rockwell Automation

$171.32

-0.71 (-0.41%)

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LECO

Lincoln Electric

$92.26

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ROK

Rockwell Automation

$171.32

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  • 23

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KMX

CarMax

$77.15

-0.57 (-0.73%)

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CarMax chairman sells 37,500 common shares »

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LOW

Lowe's

$100.65

-0.74 (-0.73%)

16:31
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Lowe's names Joseph McFarland as EVP of stores »

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16:30
07/20/18
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Options
Preliminary option volume of 20.2M today »

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PFE

Pfizer

$37.33

-0.03 (-0.08%)

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  • 22

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JCP

J.C. Penney

$2.50

-0.065 (-2.53%)

16:23
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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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Options
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ASFI

Asta Funding

$3.15

-0.1 (-3.08%)

16:18
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Asta Funding receives Nasdaq non-compliance letter »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
07/20/18
07/20
16:17
07/20/18
16:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
07/20/18
07/20
16:16
07/20/18
16:16
Technical Analysis
NYSE market internals summary »

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DIS

Disney

16:15
07/20/18
07/20
16:15
07/20/18
16:15
Periodicals
Disney fires 'Guardians' director after controversial tweets, THR says »

Disney has fired James…

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  • 07

    Aug

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