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Square (SQ) Stock Slips Ahead of Earnings, Should Investors Worry?
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Square, Inc. (SQ - Free Report) has been on an upward trend for the last six months, but shares of the mobile point-of-sale company are down on Wednesday just hours ahead of its earnings report. Should investors be nervous before Square reports its first quarter results today?
Positive Growth
Since the start of the year, shares of Square have outperformed the overall Zacks Software Industry, growing 33.9% compared to 11% for the rest of the group.
In the fourth quarter, Square’s gross payment volume was $13.7 billion, up 34% year-over-year. The company’s net revenue was $452 million, up 21% sequentially, and Square posted a positive earnings surprise of 55.56%.
Square has beaten Zacks estimates in three of the last four quarters, and the company’s Earnings ESP is currently +12.50%.
On top of its strong recent performance and upward trending estimate activity, the financial technology company expects revenues to be between $192 million and $193 million in the first quarter.
Nevertheless, Square’s stock price has dipped 3.43% to $18.16 per share in morning trading on Wednesday. The financial services company is a Zacks Rank #3 (Hold). With this ranking, along with a positive Earnings ESP, we can feel more comfortable about Square’s chances to beat earnings today.
But with shares of Square down directly before its earnings despite strong recent numbers, does it mean the fintech sector is set to trend downward overall?
Just last week, online payment giant PayPal Holdings, Inc. (PYPL - Free Report) reported strong earnings. One of the founding fathers of fintech now boasts 203 million active account holders, and the company gained 6 million new active customers last quarter, which now includes 16 million merchant accounts. PayPal processed 1.7 billion payments—totaling $99 billion—in the first-quarter.
Square’s stock has skyrocketed up 100% since July 2016, when it was trading below $9 per share. The company is set to report its first quarter 2017 earnings after the closing bell today.
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Square (SQ) Stock Slips Ahead of Earnings, Should Investors Worry?
Square, Inc. (SQ - Free Report) has been on an upward trend for the last six months, but shares of the mobile point-of-sale company are down on Wednesday just hours ahead of its earnings report. Should investors be nervous before Square reports its first quarter results today?
Positive Growth
Since the start of the year, shares of Square have outperformed the overall Zacks Software Industry, growing 33.9% compared to 11% for the rest of the group.
In the fourth quarter, Square’s gross payment volume was $13.7 billion, up 34% year-over-year. The company’s net revenue was $452 million, up 21% sequentially, and Square posted a positive earnings surprise of 55.56%.
Square has beaten Zacks estimates in three of the last four quarters, and the company’s Earnings ESP is currently +12.50%.
On top of its strong recent performance and upward trending estimate activity, the financial technology company expects revenues to be between $192 million and $193 million in the first quarter.
Nevertheless, Square’s stock price has dipped 3.43% to $18.16 per share in morning trading on Wednesday. The financial services company is a Zacks Rank #3 (Hold). With this ranking, along with a positive Earnings ESP, we can feel more comfortable about Square’s chances to beat earnings today.
But with shares of Square down directly before its earnings despite strong recent numbers, does it mean the fintech sector is set to trend downward overall?
Just last week, online payment giant PayPal Holdings, Inc. (PYPL - Free Report) reported strong earnings. One of the founding fathers of fintech now boasts 203 million active account holders, and the company gained 6 million new active customers last quarter, which now includes 16 million merchant accounts. PayPal processed 1.7 billion payments—totaling $99 billion—in the first-quarter.
Square’s stock has skyrocketed up 100% since July 2016, when it was trading below $9 per share. The company is set to report its first quarter 2017 earnings after the closing bell today.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think. See This Ticker Free >>