Square (NYSE:SQ) Price Target Raised to $70.00

Square (NYSE:SQ) had its price objective boosted by stock analysts at SunTrust Banks from $55.00 to $70.00 in a note issued to investors on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. SunTrust Banks’ target price points to a potential upside of 22.16% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. UBS Group lowered their price objective on shares of Square from $88.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 20th. ValuEngine lowered shares of Square from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Citigroup lowered shares of Square from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Wednesday, March 18th. Atlantic Securities upgraded shares of Square from an “underweight” rating to a “neutral” rating and set a $44.00 target price on the stock in a report on Tuesday, March 17th. Finally, BTIG Research upgraded shares of Square from a “sell” rating to a “neutral” rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $67.75.

NYSE SQ traded up $4.91 during trading hours on Thursday, hitting $57.30. 7,032,320 shares of the company’s stock traded hands, compared to its average volume of 20,032,404. Square has a 52-week low of $32.33 and a 52-week high of $87.25. The company has a market capitalization of $20.16 billion, a PE ratio of 73.46, a PEG ratio of 90.41 and a beta of 2.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s 50-day moving average is $70.25 and its 200-day moving average is $65.95.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, February 26th. The technology company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Square had a net margin of 7.97% and a return on equity of 6.57%. Equities research analysts predict that Square will post 0.02 earnings per share for the current fiscal year.

In other Square news, insider Jacqueline D. Reses sold 82,720 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $63.64, for a total transaction of $5,264,300.80. Following the transaction, the insider now directly owns 248,534 shares of the company’s stock, valued at approximately $15,816,703.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alyssa Henry sold 20,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.17, for a total transaction of $1,403,400.00. Following the transaction, the insider now directly owns 415,604 shares in the company, valued at $29,162,932.68. The disclosure for this sale can be found here. Insiders have sold a total of 108,316 shares of company stock worth $7,064,905 over the last quarter. 21.79% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Juncture Wealth Strategies LLC lifted its stake in shares of Square by 2.2% in the fourth quarter. Juncture Wealth Strategies LLC now owns 7,610 shares of the technology company’s stock valued at $476,000 after purchasing an additional 162 shares during the period. Strategic Advisors LLC raised its position in Square by 4.6% during the fourth quarter. Strategic Advisors LLC now owns 4,023 shares of the technology company’s stock worth $252,000 after acquiring an additional 178 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in Square by 3.4% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 6,212 shares of the technology company’s stock worth $389,000 after acquiring an additional 203 shares during the last quarter. Tower View Investment Management & Research LLC raised its position in Square by 2.0% during the fourth quarter. Tower View Investment Management & Research LLC now owns 10,817 shares of the technology company’s stock worth $677,000 after acquiring an additional 217 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its position in Square by 29.3% during the fourth quarter. Jacobi Capital Management LLC now owns 970 shares of the technology company’s stock worth $61,000 after acquiring an additional 220 shares during the last quarter. 58.59% of the stock is currently owned by institutional investors.

Square Company Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.

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Analyst Recommendations for Square (NYSE:SQ)

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