Square (NYSE:SQ) had its price target hoisted by Royal Bank of Canada from $53.00 to $65.00 in a report issued on Wednesday, Marketbeat reports. They currently have an outperform rating on the technology company’s stock.
Other equities research analysts have also recently issued research reports about the stock. Nomura lowered their target price on shares of Square from $65.00 to $64.00 and set a buy rating on the stock in a report on Wednesday, April 18th. Vetr cut shares of Square from a buy rating to a hold rating and set a $58.05 target price on the stock. in a report on Tuesday, March 20th. Citigroup reissued an outperform rating and set a $52.00 target price (up previously from $41.00) on shares of Square in a report on Thursday, March 1st. Guggenheim reissued a buy rating and set a $50.00 target price on shares of Square in a report on Thursday, March 1st. Finally, Canaccord Genuity boosted their target price on shares of Square from $33.00 to $40.00 and gave the company a hold rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Square has a consensus rating of Buy and an average price target of $46.51.
NYSE:SQ opened at $55.77 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.76. Square has a 12 month low of $22.22 and a 12 month high of $58.46.
Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $293.07 million. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. Square’s revenue was up 50.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. research analysts predict that Square will post 0.01 earnings per share for the current fiscal year.
In related news, insider Jacqueline D. Reses sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $47.51, for a total value of $712,650.00. Following the completion of the transaction, the insider now directly owns 594,541 shares in the company, valued at $28,246,642.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $55.13, for a total transaction of $22,052,000.00. Following the completion of the transaction, the director now owns 468,223 shares of the company’s stock, valued at $25,813,133.99. The disclosure for this sale can be found here. Insiders have sold a total of 1,310,855 shares of company stock valued at $67,150,508 over the last 90 days. Company insiders own 27.99% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in Square by 1,476.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock worth $114,000 after acquiring an additional 2,170 shares in the last quarter. McKinley Carter Wealth Services Inc. purchased a new position in Square in the first quarter worth $138,000. Strs Ohio purchased a new position in Square in the fourth quarter worth $110,000. Harvest Fund Management Co. Ltd purchased a new position in Square in the fourth quarter worth $131,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Square in the fourth quarter worth $139,000. Institutional investors own 51.98% of the company’s stock.
Square Company Profile
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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