Square (NYSE:SQ) had its price objective hoisted by equities researchers at Deutsche Bank from $37.00 to $43.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the technology company’s stock. Deutsche Bank’s price target indicates a potential downside of 2.52% from the stock’s current price.
Several other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Monday, February 5th. Susquehanna Bancshares increased their price objective on shares of Square from $43.00 to $51.00 and gave the stock a “positive” rating in a research note on Monday, February 5th. Vetr upgraded shares of Square from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Monday, February 5th. Nomura reiterated a “buy” rating and set a $64.00 price objective (up previously from $48.00) on shares of Square in a research note on Friday, January 19th. Finally, Stephens restated a “buy” rating and issued a $41.00 target price on shares of Square in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Square has an average rating of “Buy” and an average target price of $37.13.
Shares of Square (NYSE:SQ) opened at $44.11 on Thursday. Square has a 12 month low of $13.99 and a 12 month high of $49.56. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48.
In related news, insider Hillary B. Smith sold 75,103 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $37.56, for a total transaction of $2,820,868.68. Following the completion of the sale, the insider now directly owns 563,798 shares in the company, valued at $21,176,252.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ajmere Dale sold 2,814 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $37.23, for a total transaction of $104,765.22. The disclosure for this sale can be found here. Insiders sold 1,266,741 shares of company stock valued at $49,532,769 over the last quarter. Insiders own 32.68% of the company’s stock.
A number of large investors have recently modified their holdings of SQ. Allianz Asset Management GmbH boosted its holdings in Square by 31.0% during the third quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock worth $383,235,000 after buying an additional 3,147,558 shares in the last quarter. Jennison Associates LLC bought a new stake in Square during the fourth quarter worth approximately $86,426,000. BlackRock Inc. boosted its holdings in Square by 18.4% during the fourth quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock worth $450,913,000 after buying an additional 2,024,019 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Square by 458.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,962,828 shares of the technology company’s stock worth $68,051,000 after buying an additional 1,611,446 shares in the last quarter. Finally, Whale Rock Capital Management LLC bought a new stake in Square during the third quarter worth approximately $44,337,000. Hedge funds and other institutional investors own 53.77% of the company’s stock.
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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.
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