Square (NYSE:SQ) had its target price decreased by stock analysts at Nomura from $65.00 to $64.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the technology company’s stock. Nomura’s price objective would suggest a potential upside of 28.85% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. Stephens restated a “buy” rating and issued a $41.00 price target on shares of Square in a research report on Wednesday, January 10th. Deutsche Bank boosted their price target on shares of Square from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Susquehanna Bancshares lifted their price objective on shares of Square from $43.00 to $51.00 and gave the stock a “positive” rating in a research note on Monday, February 5th. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Monday, February 5th. Finally, Vetr raised shares of Square from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.85.
Shares of SQ opened at $49.67 on Wednesday. Square has a fifty-two week low of $16.98 and a fifty-two week high of $58.46. The firm has a market capitalization of $18,640.62, a P/E ratio of -496.70 and a beta of 4.21. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46.
In other news, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $41.46, for a total transaction of $1,592,064.00. Following the completion of the sale, the chief financial officer now directly owns 349,123 shares of the company’s stock, valued at $14,474,639.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $45.66, for a total transaction of $18,264,000.00. Following the sale, the director now directly owns 468,020 shares of the company’s stock, valued at $21,369,793.20. The disclosure for this sale can be found here. Insiders have sold 972,655 shares of company stock valued at $47,072,834 over the last three months. Insiders own 32.68% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Square in the fourth quarter worth about $110,000. Harvest Fund Management Co. Ltd purchased a new stake in Square in the fourth quarter worth about $131,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Square in the fourth quarter worth about $139,000. American International Group Inc. purchased a new stake in Square in the fourth quarter worth about $200,000. Finally, Commerce Bank purchased a new stake in Square in the fourth quarter worth about $201,000. 52.42% of the stock is owned by institutional investors.
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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 Europay, MasterCard, and Visa (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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