Square (NYSE:SQ) had its target price raised by JPMorgan Chase & Co. from $156.00 to $172.00 in a research report released on Monday, The Fly reports. The firm currently has an overweight rating on the technology company’s stock.
A number of other equities research analysts have also recently issued reports on SQ. Oppenheimer started coverage on shares of Square in a report on Wednesday, May 6th. They set a hold rating for the company. Needham & Company LLC restated a buy rating and set a $190.00 price target on shares of Square in a report on Wednesday, August 5th. Morgan Stanley upped their price target on shares of Square from $41.00 to $44.00 and gave the company an equal weight rating in a report on Tuesday, August 4th. Citigroup upped their price target on shares of Square from $66.00 to $95.00 and gave the company a neutral rating in a report on Tuesday, June 16th. Finally, KeyCorp upped their price objective on shares of Square from $140.00 to $165.00 and gave the company an overweight rating in a research report on Thursday, August 6th. Five research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seventeen have issued a buy rating to the stock. Square has an average rating of Hold and a consensus target price of $107.35.
Shares of NYSE:SQ opened at $155.86 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.12. Square has a 1 year low of $32.33 and a 1 year high of $158.43. The firm has a fifty day moving average price of $130.50 and a 200 day moving average price of $87.67. The stock has a market capitalization of $66.99 billion, a PE ratio of 251.39 and a beta of 2.72.
Square (NYSE:SQ) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.41. Square had a net margin of 5.15% and a negative return on equity of 1.20%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned $0.21 earnings per share. The business’s quarterly revenue was up 63.8% compared to the same quarter last year. On average, sell-side analysts forecast that Square will post -0.29 earnings per share for the current fiscal year.
In other news, Director Paul Deighton sold 20,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $141.60, for a total transaction of $2,832,000.00. Following the sale, the director now directly owns 45,316 shares of the company’s stock, valued at $6,416,745.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ajmere Dale sold 2,000 shares of the stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $100.00, for a total transaction of $200,000.00. Following the sale, the chief accounting officer now directly owns 49,315 shares in the company, valued at $4,931,500. The disclosure for this sale can be found here. Insiders have sold 238,130 shares of company stock worth $34,624,779 over the last ninety days. Insiders own 21.79% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Square by 10.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,590,142 shares of the technology company’s stock valued at $449,952,000 after purchasing an additional 829,282 shares during the last quarter. Fir Tree Capital Management LP bought a new stake in shares of Square during the second quarter valued at approximately $9,078,000. Nikko Asset Management Americas Inc. grew its stake in shares of Square by 10.9% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,194,197 shares of the technology company’s stock valued at $376,832,000 after purchasing an additional 708,667 shares during the last quarter. Sands Capital Management LLC bought a new stake in shares of Square during the first quarter valued at approximately $298,358,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Square by 44.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,942,296 shares of the technology company’s stock valued at $258,877,000 after purchasing an additional 1,520,028 shares during the last quarter. 62.65% of the stock is currently owned by institutional investors and hedge funds.
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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