Square (NYSE:SQ) PT Lowered to $66.00

Square (NYSE:SQ) had its price objective cut by analysts at Piper Jaffray Companies from $75.00 to $66.00 in a research report issued on Thursday, The Fly reports. The firm presently has a “neutral” rating on the technology company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 7.60% from the stock’s current price.

SQ has been the topic of a number of other reports. KeyCorp reduced their price objective on shares of Square from $100.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Susquehanna Bancshares raised shares of Square from a “neutral” rating to a “positive” rating and set a $77.00 price objective on the stock in a research note on Friday, October 11th. Evercore ISI set a $50.00 price objective on shares of Square and gave the company a “sell” rating in a research note on Tuesday, September 24th. Moffett Nathanson raised shares of Square from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 3rd. Finally, Bank of America set a $70.00 target price on shares of Square and gave the stock a “hold” rating in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.07.

SQ opened at $61.34 on Thursday. Square has a fifty-two week low of $49.82 and a fifty-two week high of $83.20. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $26.64 billion, a price-to-earnings ratio of 3,067.00, a PEG ratio of 22.43 and a beta of 3.38. The company’s 50 day moving average price is $61.11 and its two-hundred day moving average price is $66.98.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The company had revenue of $602.00 million for the quarter, compared to analyst estimates of $596.85 million. During the same period in the prior year, the firm posted $0.13 EPS. The company’s quarterly revenue was up 39.7% on a year-over-year basis. As a group, equities research analysts predict that Square will post 0.11 EPS for the current year.

In other news, insider Alyssa Henry sold 20,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $61.86, for a total value of $1,237,200.00. Following the completion of the sale, the insider now owns 442,168 shares in the company, valued at $27,352,512.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 2,048 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $62.47, for a total transaction of $127,938.56. Following the completion of the sale, the chief accounting officer now owns 64,050 shares of the company’s stock, valued at approximately $4,001,203.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,048 shares of company stock worth $2,570,339. Corporate insiders own 21.79% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Enterprise Trust & Investment Co purchased a new stake in shares of Square in the second quarter valued at about $25,000. Larson Financial Group LLC raised its holdings in shares of Square by 130.7% in the second quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock valued at $27,000 after purchasing an additional 213 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Square by 78.4% during the second quarter. Benjamin Edwards Inc. now owns 512 shares of the technology company’s stock worth $37,000 after buying an additional 225 shares during the last quarter. Atlantic Trust LLC increased its holdings in Square by 38.9% during the second quarter. Atlantic Trust LLC now owns 521 shares of the technology company’s stock worth $38,000 after buying an additional 146 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Square by 67.6% during the second quarter. Assetmark Inc. now owns 523 shares of the technology company’s stock worth $38,000 after buying an additional 211 shares during the last quarter. Institutional investors own 56.54% of the company’s stock.

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 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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