Mizuho Boosts Square (NYSE:SQ) Price Target to $300.00

Square (NYSE:SQ) had its target price raised by Mizuho from $225.00 to $300.00 in a research report report published on Thursday morning, The Fly reports. Mizuho currently has a buy rating on the technology company’s stock.

Several other equities analysts also recently commented on SQ. Jefferies Financial Group increased their price objective on shares of Square from $145.00 to $170.00 and gave the company a hold rating in a research note on Tuesday, October 20th. BMO Capital Markets raised their price objective on Square from $162.00 to $171.00 and gave the company a market perform rating in a report on Monday, November 9th. They noted that the move was a valuation call. Rosenblatt Securities upped their target price on Square from $136.00 to $181.00 and gave the stock a buy rating in a report on Thursday, August 6th. CSFB lifted their price target on Square from $170.00 to $175.00 and gave the company an outperform rating in a research note on Monday, September 28th. Finally, Loop Capital initiated coverage on Square in a research note on Tuesday, September 22nd. They issued a buy rating and a $169.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $153.43.

Shares of SQ stock opened at $195.97 on Thursday. The business has a fifty day simple moving average of $178.34 and a 200 day simple moving average of $134.15. The company has a market cap of $86.92 billion, a P/E ratio of 316.08 and a beta of 2.68. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.92. Square has a twelve month low of $32.33 and a twelve month high of $201.33.

Square (NYSE:SQ) last issued its earnings results on Thursday, November 5th. The technology company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.18. Square had a negative return on equity of 1.20% and a net margin of 5.15%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 139.6% on a year-over-year basis. As a group, equities research analysts anticipate that Square will post -0.23 earnings per share for the current fiscal year.

In other news, insider Sivan Whiteley sold 2,662 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $167.81, for a total value of $446,710.22. Following the completion of the transaction, the insider now directly owns 138,268 shares in the company, valued at approximately $23,202,753.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 200,000 shares of the stock in a transaction dated Tuesday, November 17th. The shares were sold at an average price of $177.03, for a total value of $35,406,000.00. In the last ninety days, insiders sold 781,819 shares of company stock worth $136,009,974. Insiders own 21.79% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sandy Spring Bank grew its position in Square by 123.9% during the second quarter. Sandy Spring Bank now owns 253 shares of the technology company’s stock valued at $27,000 after acquiring an additional 140 shares during the last quarter. Baron Financial Group LLC bought a new position in shares of Square during the 3rd quarter valued at $29,000. Neo Ivy Capital Management purchased a new position in Square in the 3rd quarter worth $29,000. Resources Management Corp CT ADV lifted its stake in Square by 1,000.0% in the third quarter. Resources Management Corp CT ADV now owns 220 shares of the technology company’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Finally, South State CORP. purchased a new stake in Square during the third quarter valued at about $40,000. 66.29% of the stock is owned by institutional investors and hedge funds.

About Square

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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