Square (NYSE:SQ) Price Target Raised to $70.00
Square (NYSE:SQ) had its price target raised by equities research analysts at SunTrust Banks from $55.00 to $70.00 in a report issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the technology company’s stock. SunTrust Banks’ price target would indicate a potential upside of 22.16% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. Wolfe Research downgraded shares of Square from an “outperform” rating to a “peer perform” rating and set a $70.00 price objective for the company. in a research note on Monday, January 6th. Nomura upgraded shares of Square from a “reduce” rating to a “neutral” rating and set a $49.00 price objective for the company in a research note on Wednesday. BTIG Research upgraded shares of Square from a “sell” rating to a “neutral” rating in a research note on Wednesday, March 18th. ValuEngine downgraded shares of Square from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Bank of America restated a “buy” rating and issued a $72.00 target price on shares of Square in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $67.75.
SQ traded up $4.91 during trading on Thursday, hitting $57.30. 7,032,320 shares of the company’s stock were exchanged, compared to its average volume of 20,032,404. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.61. Square has a 1 year low of $32.33 and a 1 year high of $87.25. The stock has a 50 day moving average price of $70.25 and a 200 day moving average price of $65.95. The firm has a market cap of $20.16 billion, a P/E ratio of 73.46, a price-to-earnings-growth ratio of 90.41 and a beta of 2.71.
In other Square news, insider Jacqueline D. Reses sold 82,720 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $63.64, for a total transaction of $5,264,300.80. Following the sale, the insider now directly owns 248,534 shares of the company’s stock, valued at $15,816,703.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alyssa Henry sold 20,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.17, for a total transaction of $1,403,400.00. Following the sale, the insider now directly owns 415,604 shares in the company, valued at $29,162,932.68. The disclosure for this sale can be found here. Insiders sold 108,316 shares of company stock worth $7,064,905 over the last ninety days. 21.79% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Stonebridge Financial Planning Group LLC bought a new position in shares of Square during the fourth quarter worth about $29,000. Americana Partners LLC bought a new position in shares of Square during the fourth quarter worth about $29,000. Acadian Asset Management LLC bought a new position in shares of Square during the fourth quarter worth about $34,000. S.A. Mason LLC bought a new position in shares of Square during the fourth quarter worth about $37,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Square during the fourth quarter worth about $38,000. 58.59% of the stock is currently owned by institutional investors.
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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