Square (SQ) Price Target Raised to $55.00 at KeyCorp

Square (NYSE:SQ) had its target price raised by KeyCorp from $52.00 to $55.00 in a research note published on Monday, Marketbeat reports. The brokerage currently has an overweight rating on the technology company’s stock.

SQ has been the subject of a number of other research reports. Nomura dropped their price objective on shares of Square from $65.00 to $64.00 and set a buy rating for the company in a report on Wednesday, April 18th. Vetr lowered shares of Square from a buy rating to a hold rating and set a $58.05 price objective for the company. in a report on Tuesday, March 20th. Citigroup reissued an outperform rating and issued a $52.00 price objective (up previously from $41.00) on shares of Square in a report on Thursday, March 1st. Guggenheim reissued a buy rating and issued a $50.00 price objective on shares of Square in a report on Thursday, March 1st. Finally, Canaccord Genuity upped their price objective 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 research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $43.94.

Shares of SQ opened at $46.74 on Monday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Square has a 12-month low of $17.94 and a 12-month high of $58.46. The stock has a market capitalization of $18,236.34, a P/E ratio of -467.40 and a beta of 4.21.

Square (NYSE:SQ) last announced its quarterly earnings data on Tuesday, February 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. Square had a negative net margin of 2.84% and a negative return on equity of 6.60%. The firm had revenue of $616.04 million during the quarter, compared to analyst estimates of $601.63 million. equities research analysts anticipate that Square will post 0.02 EPS for the current year.

In other news, insider Hillary B. Smith sold 21,383 shares of the stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $54.17, for a total transaction of $1,158,317.11. Following the sale, the insider now owns 469,814 shares of the company’s stock, valued at $25,449,824.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ajmere Dale sold 5,272 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $49.07, for a total transaction of $258,697.04. Following the sale, the insider now directly owns 106,533 shares in the company, valued at approximately $5,227,574.31. The disclosure for this sale can be found here. Insiders have sold 1,334,255 shares of company stock worth $64,240,770 in the last three months. Corporate insiders own 32.68% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. BB&T Securities LLC increased its stake in shares of Square by 16.6% during the fourth quarter. BB&T Securities LLC now owns 10,902 shares of the technology company’s stock worth $377,000 after buying an additional 1,550 shares during the period. US Bancorp DE increased its stake in shares of Square by 20.2% during the fourth quarter. US Bancorp DE now owns 10,251 shares of the technology company’s stock worth $355,000 after buying an additional 1,724 shares during the period. Tocqueville Asset Management L.P. increased its stake in shares of Square by 1.7% during the fourth quarter. Tocqueville Asset Management L.P. now owns 151,500 shares of the technology company’s stock worth $5,253,000 after buying an additional 2,500 shares during the period. Amalgamated Bank increased its stake in shares of Square by 5.8% during the fourth quarter. Amalgamated Bank now owns 48,639 shares of the technology company’s stock worth $1,686,000 after buying an additional 2,656 shares during the period. Finally, Sigma Planning Corp increased its stake in shares of Square by 27.6% during the fourth quarter. Sigma Planning Corp now owns 12,684 shares of the technology company’s stock worth $440,000 after buying an additional 2,741 shares during the period. Hedge funds and other institutional investors own 52.49% of the company’s stock.

About Square

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 Europay, MasterCard, and Visa (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.

Analyst Recommendations for Square (NYSE:SQ)

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