Square (SQ) Price Target Raised to $108.00

Square (NYSE:SQ) had its target price lifted by research analysts at Goldman Sachs Group from $77.00 to $108.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Goldman Sachs Group’s price objective indicates a potential upside of 28.69% from the company’s previous close.

Other analysts also recently issued research reports about the company. ValuEngine raised Square from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Wolfe Research assumed coverage on Square in a research note on Tuesday, July 17th. They set a “market perform” rating on the stock. KeyCorp reaffirmed an “overweight” rating and set a $70.00 target price (up previously from $55.00) on shares of Square in a research note on Tuesday, June 19th. Deutsche Bank boosted their price objective on Square from $57.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Finally, SunTrust Banks boosted their price objective on Square from $45.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, June 29th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Square currently has a consensus rating of “Hold” and a consensus price target of $68.22.

NYSE SQ traded down $10.19 during mid-day trading on Monday, reaching $83.92. 658,038 shares of the company’s stock traded hands, compared to its average volume of 12,463,342. Square has a 1-year low of $30.50 and a 1-year high of $101.15. 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 cap of $40.64 billion, a PE ratio of -843.00 and a beta of 4.33.

Square (NYSE:SQ) last issued its earnings results on Wednesday, August 1st. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.14. The company 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 business’s revenue was up 60.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. On average, analysts anticipate that Square will post -0.04 earnings per share for the current year.

In other Square news, insider Sivan Whiteley sold 1,875 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $69.84, for a total value of $130,950.00. Following the transaction, the insider now owns 526,299 shares in the company, valued at $36,756,722.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $71.26, for a total value of $28,504,000.00. Following the completion of the transaction, the director now owns 472,175 shares in the company, valued at approximately $33,647,190.50. The disclosure for this sale can be found here. Insiders have sold 1,785,475 shares of company stock worth $147,900,923 in the last quarter. 27.99% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lincoln National Corp grew its stake in Square by 13.7% in the second quarter. Lincoln National Corp now owns 6,327 shares of the technology company’s stock valued at $390,000 after purchasing an additional 764 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Square by 19.2% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 5,341 shares of the technology company’s stock worth $329,000 after buying an additional 861 shares during the last quarter. Northstar Capital Management LLC lifted its position in shares of Square by 1.2% in the second quarter. Northstar Capital Management LLC now owns 76,435 shares of the technology company’s stock worth $4,711,000 after buying an additional 901 shares during the last quarter. Intl Fcstone Inc. lifted its position in shares of Square by 8.2% in the third quarter. Intl Fcstone Inc. now owns 12,733 shares of the technology company’s stock worth $1,261,000 after buying an additional 965 shares during the last quarter. Finally, Horan Capital Management lifted its position in shares of Square by 7.2% in the second quarter. Horan Capital Management now owns 14,900 shares of the technology company’s stock worth $918,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 51.86% 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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