Square (SQ) PT Raised to $55.00

Square (NYSE:SQ) had its target price hoisted by stock analysts at KeyCorp from $52.00 to $55.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target indicates a potential upside of 19.54% from the company’s previous close.

A number of other research firms also recently issued reports on SQ. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Tuesday, January 23rd. Vetr upgraded shares of Square from a “hold” rating to a “buy” rating and set a $58.39 target price for the company in a research report on Monday, March 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $51.00 target price (up previously from $41.00) on shares of Square in a research report on Wednesday, February 28th. Stephens restated a “buy” rating and set a $41.00 price target on shares of Square in a report on Wednesday, January 10th. Finally, Credit Suisse Group raised their price target on shares of Square from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $43.94.

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SQ stock opened at $46.01 on Monday. Square has a 12-month low of $17.82 and a 12-month high of $58.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 1.83. The company has a market capitalization of $20,396.48, a price-to-earnings ratio of -460.10 and a beta of 4.19.

Square (NYSE:SQ) last released its earnings results on Tuesday, February 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Square had a negative net margin of 2.84% and a negative return on equity of 6.60%. The company had revenue of $616.04 million during the quarter, compared to the consensus estimate of $601.63 million. research analysts expect that Square will post 0.02 earnings per share for the current fiscal year.

In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $46.90, for a total value of $18,760,000.00. Following the transaction, the director now directly owns 468,223 shares in the company, valued at approximately $21,959,658.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hillary B. Smith sold 21,383 shares of the firm’s stock in a transaction on Monday, March 19th. The stock was sold at an average price of $54.17, for a total transaction of $1,158,317.11. Following the completion of the sale, the insider now owns 469,814 shares in the company, valued at $25,449,824.38. The disclosure for this sale can be found here. Insiders sold a total of 1,334,255 shares of company stock worth $64,240,770 over the last quarter. 32.68% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SQ. Legal & General Group Plc grew its position in Square by 25.2% in the 3rd quarter. Legal & General Group Plc now owns 99,488 shares of the technology company’s stock worth $2,866,000 after purchasing an additional 20,036 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Square in the 3rd quarter worth $1,928,000. Stifel Financial Corp grew its position in Square by 25.0% in the 3rd quarter. Stifel Financial Corp now owns 42,648 shares of the technology company’s stock worth $1,228,000 after purchasing an additional 8,540 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Square in the 3rd quarter worth $5,039,000. Finally, California Public Employees Retirement System boosted its position in shares of Square by 4.1% during the 3rd quarter. California Public Employees Retirement System now owns 368,151 shares of the technology company’s stock valued at $10,606,000 after acquiring an additional 14,451 shares in the last quarter. Institutional investors own 52.49% of the company’s stock.

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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 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.

Analyst Recommendations for Square (NYSE:SQ)

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