Square (NYSE:SQ) PT Raised to $40.00 at Morgan Stanley

Square (NYSE:SQ) had its price target hoisted by analysts at Morgan Stanley from $26.00 to $40.00 in a report released on Tuesday, December 19th, The Fly reports. The firm presently has a “hold” rating on the technology company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 3.03% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other research analysts also recently weighed in on the stock. Goldman Sachs Group raised shares of Square to a “buy” rating in a report on Thursday, November 16th. Vetr raised shares of Square from a “buy” rating to a “strong-buy” rating and set a $39.78 price objective for the company in a report on Wednesday, October 25th. Evercore ISI raised shares of Square from an “in-line” rating to an “outperform” rating and set a $51.00 price objective for the company in a report on Friday, November 17th. Stephens reissued an “overweight” rating and set a $38.00 price objective (up previously from $34.00) on shares of Square in a report on Thursday, November 9th. They noted that the move was a valuation call. Finally, Guggenheim raised shares of Square from a “neutral” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have issued a buy rating to the company. Square has a consensus rating of “Buy” and a consensus price target of $35.37.

Shares of Square (NYSE SQ) traded down $1.05 during midday trading on Tuesday, reaching $41.25. 13,690,000 shares of the company were exchanged, compared to its average volume of 19,350,000. The stock has a market cap of $16,030.00 and a price-to-earnings ratio of -242.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81. Square has a 52 week low of $13.84 and a 52 week high of $49.56.

Square (NYSE:SQ) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The business had revenue of $257.12 million during the quarter, compared to analyst estimates of $244.95 million. During the same period in the previous year, the business earned $0.01 EPS. The company’s quarterly revenue was up 44.6% compared to the same quarter last year. equities research analysts predict that Square will post -0.15 earnings per share for the current year.

In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total transaction of $13,088,000.00. Following the completion of the transaction, the director now owns 507,732 shares of the company’s stock, valued at $16,612,991.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ajmere Dale sold 20,286 shares of Square stock in a transaction on Monday, November 13th. The shares were sold at an average price of $39.12, for a total transaction of $793,588.32. Following the completion of the transaction, the insider now directly owns 134,518 shares of the company’s stock, valued at approximately $5,262,344.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,631,132 shares of company stock valued at $60,790,154. 32.68% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Almanack Investment Partners LLC. purchased a new position in Square in the second quarter valued at $117,000. Hudock Capital Group LLC acquired a new stake in shares of Square in the third quarter valued at about $157,000. Riverhead Capital Management LLC acquired a new stake in shares of Square in the second quarter valued at about $149,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Square by 19.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,099 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of Square in the third quarter valued at about $205,000. 54.20% of the stock is owned by institutional investors.

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Square Company Profile

Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.

The Fly

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