Square (NYSE:SQ) had its price objective hoisted by Buckingham Research from $85.00 to $105.00 in a research report report published on Wednesday morning, Marketbeat reports. They currently have a buy rating on the technology company’s stock.
A number of other brokerages also recently issued reports on SQ. Jefferies Financial Group lifted their price target on Square to $88.00 and gave the company a hold rating in a research report on Tuesday. Evercore ISI set a $101.00 price target on Square and gave the company an outperform rating in a research report on Friday, September 21st. Stifel Nicolaus reiterated a buy rating and set a $100.00 price target (up previously from $76.00) on shares of Square in a research report on Wednesday, September 19th. Deutsche Bank lifted their price target on Square from $78.00 to $98.00 and gave the company a buy rating in a research report on Friday, September 14th. Finally, Guggenheim lifted their price target on Square from $75.00 to $100.00 and gave the company a buy rating in a research report on Wednesday, August 29th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $65.80.
SQ stock traded up $0.80 during mid-day trading on Wednesday, reaching $95.45. 117,102 shares of the company traded hands, compared to its average volume of 12,519,606. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $39.13 billion, a PE ratio of -963.66 and a beta of 4.36. Square has a 52-week low of $27.82 and a 52-week high of $98.47.
Square (NYSE:SQ) last posted its earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.14. The business had revenue of $385.00 million during the quarter, compared to analyst estimates of $367.99 million. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. The company’s quarterly revenue was up 60.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS. equities research analysts anticipate that Square will post -0.04 EPS for the current fiscal year.
In other Square news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $87.31, for a total value of $8,995,985.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline D. Reses sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $62.34, for a total value of $935,100.00. Following the completion of the sale, the insider now owns 559,200 shares of the company’s stock, valued at approximately $34,860,528. The disclosure for this sale can be found here. Insiders sold a total of 1,989,181 shares of company stock valued at $154,720,102 in the last 90 days. 27.99% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in SQ. Whale Rock Capital Management LLC bought a new stake in Square in the first quarter valued at approximately $180,818,000. Lord Abbett & CO. LLC bought a new stake in Square in the first quarter valued at approximately $40,131,000. American Century Companies Inc. lifted its position in Square by 2,070.5% in the second quarter. American Century Companies Inc. now owns 827,790 shares of the technology company’s stock valued at $51,025,000 after purchasing an additional 789,651 shares during the last quarter. Korea Investment CORP bought a new stake in Square in the second quarter valued at approximately $36,435,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Square by 141.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 781,760 shares of the technology company’s stock valued at $48,188,000 after purchasing an additional 458,147 shares during the last quarter. Hedge funds and other institutional investors own 51.86% 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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