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.
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.
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.
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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