Square Nears A Buy Zone Ahead Of Earnings

If you’re trying to build your earnings season watch list by looking for stocks setting up in a base ahead of earnings, here’s one that fits the bill: IBD 50 member Square (SQ).

Square is expected to release its latest numbers around May 6 and is currently approximately 10% shy of a 283.29 entry. The current formation is a first-stage consolidation.


Understand that buying just before a stock reports is risky, since an EPS or sales miss could send it sharply lower. You can minimize your risk by waiting to see the actual numbers and the market’s reaction.

Square’s ratings, though, should provide some encouragement.

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Taking a look at top and bottom line numbers, Square has posted three quarters of accelerating earnings growth. Revenue growth has also risen during the same period.

Analysts are looking for EPS growth of 950% for the quarter, and 48% growth for the full year. Annual growth estimates were recently revised upward.

Square has a 98 Composite Rating and earns the No. 1 rank among its peers in the Finance-Card/Payment Processing industry group. PayPal (PYPL) and Discover Financial Services (DFS) 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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