Citigroup upgraded shares of Square (NYSE:SQ) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat reports. They currently have $90.00 price target on the technology company’s stock.
A number of other analysts have also commented on SQ. Oppenheimer lowered Square from an outperform rating to a market perform rating in a report on Tuesday, July 10th. Jefferies Financial Group reiterated a hold rating and set a $63.00 price target on shares of Square in a report on Tuesday, July 10th. Piper Jaffray Companies lifted their price target on Square to $63.00 and gave the stock a neutral rating in a report on Tuesday, July 10th. Guggenheim reiterated a buy rating and set a $73.00 price target on shares of Square in a report on Friday, July 13th. Finally, Wolfe Research started coverage on Square in a report on Tuesday, July 17th. They set a market perform rating on the stock. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Square currently has a consensus rating of Buy and a consensus target price of $73.36.
Shares of Square stock opened at $77.31 on Tuesday. The firm has a market cap of $31.91 billion, a P/E ratio of -773.10 and a beta of 4.30. Square has a 12 month low of $34.14 and a 12 month high of $101.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.18 and a current ratio of 2.18.
A number of institutional investors have recently bought and sold shares of SQ. Centaurus Financial Inc. purchased a new position in Square during the second quarter worth about $100,000. Huntington National Bank grew its position in Square by 1,725.0% during the second quarter. Huntington National Bank now owns 1,825 shares of the technology company’s stock worth $112,000 after buying an additional 1,725 shares in the last quarter. Columbia Asset Management purchased a new position in Square during the third quarter worth about $114,000. Rehmann Capital Advisory Group grew its position in Square by 649.8% during the second quarter. Rehmann Capital Advisory Group now owns 2,317 shares of the technology company’s stock worth $143,000 after buying an additional 2,008 shares in the last quarter. Finally, Thompson Davis & CO. Inc. grew its position in Square by 736.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,510 shares of the technology company’s stock worth $155,000 after buying an additional 2,210 shares in the last quarter. Institutional investors and hedge funds own 51.25% 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 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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