IBD 50 and Sector Leaders member Square (SQ) is forming a base showing a 283.29 entry with its next quarterly EPS report expected on May 6. The pattern puts Square stock in a first-stage consolidation.
Understand that buying just before a stock reports can be risky. You don’t know how the stock will report and how the market will react, and you don’t have enough time to build a profit cushion. You can minimize your exposure by waiting to see the actual numbers and the market’s reaction.
In terms of fundamentals, Square stock has posted three quarters of rising earnings growth. Top line growth has also risen during the same period.
Analysts are looking for earnings-per-share growth of 950% for the quarter, and 46% growth for the full year. Annual growth estimates were recently revised upward.
The company has a 97 Composite Rating and earns the No. 1 rank among its peers in the Finance-Card/Payment Processing industry group. PayPal (PYPL) and i3 Verticals (IIIV) are also among the group’s highest-rated stocks.
Note: Dates for earnings reports are subject to change. Check the company’s website for any updates.
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