Square (SQ) Receives Overweight Rating from KeyCorp

Square (NYSE:SQ)‘s stock had its “overweight” rating restated by analysts at KeyCorp in a note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $52.00 price target on the technology company’s stock, up from their previous price target of $40.00. KeyCorp’s target price would suggest a potential upside of 15.81% from the company’s previous close.

Several other brokerages also recently weighed in on SQ. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Tuesday, January 23rd. Barclays increased their price target on Square from $28.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, November 9th. Stephens reaffirmed a “buy” rating and set a $41.00 price target on shares of Square in a report on Wednesday, January 10th. Wells Fargo & Co started coverage on Square in a report on Tuesday, November 21st. They set a “market perform” rating and a $42.00 price target for the company. Finally, Deutsche Bank raised their target price on Square to $37.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $37.47.

Shares of Square (NYSE:SQ) opened at $44.90 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.48. Square has a fifty-two week low of $16.11 and a fifty-two week high of $49.56. The firm has a market capitalization of $17,450.00 and a price-to-earnings ratio of -264.12.

In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $38.15, for a total value of $15,260,000.00. Following the completion of the transaction, the director now owns 67,732 shares in the company, valued at $2,583,975.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jack Dorsey sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $40.48, for a total value of $2,024,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,628,341 shares of company stock valued at $65,982,753. Company insiders own 32.68% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its position in Square by 96.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 59,667 shares of the technology company’s stock worth $2,069,000 after purchasing an additional 29,282 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Square during the 4th quarter worth about $1,310,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Square during the 4th quarter worth about $3,535,000. BB&T Securities LLC increased its position in Square by 16.6% during the 4th quarter. BB&T Securities LLC now owns 10,902 shares of the technology company’s stock worth $377,000 after purchasing an additional 1,550 shares in the last quarter. Finally, Leonetti & Associates LLC increased its position in Square by 5.5% during the 4th quarter. Leonetti & Associates LLC now owns 118,075 shares of the technology company’s stock worth $4,094,000 after purchasing an additional 6,150 shares in the last quarter. Hedge funds and other institutional investors own 53.31% 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.

Analyst Recommendations for Square (NYSE:SQ)

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