Square (NYSE:SQ) had its price target increased by Royal Bank of Canada from $53.00 to $65.00 in a report released on Wednesday. They currently have an outperform rating on the technology company’s stock.
A number of other equities analysts have also recently weighed in on the stock. Morgan Stanley upped their price target on shares of Square from $40.00 to $43.00 and gave the stock an equal weight rating in a research note on Thursday, May 3rd. BTIG Research reissued a sell rating and issued a $30.00 price objective on shares of Square in a research note on Thursday, May 3rd. Stifel Nicolaus raised shares of Square from a hold rating to a buy rating and increased their price objective for the company from $46.00 to $55.00 in a research note on Thursday, May 3rd. ValuEngine raised shares of Square from a hold rating to a buy rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research raised shares of Square from a hold rating to a buy rating and set a $53.00 price objective on the stock in a research note on Tuesday, May 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $46.51.
Square opened at $55.09 on Wednesday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 1.76. Square has a fifty-two week low of $21.42 and a fifty-two week high of $58.46. The firm has a market cap of $21.89 billion, a PE ratio of -550.90 and a beta of 4.24.
Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The business had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $293.07 million. During the same period in the prior year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 50.5% on a year-over-year basis. equities research analysts expect that Square will post 0.01 earnings per share for the current fiscal year.
In other news, insider Ajmere Dale sold 5,272 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $49.07, for a total transaction of $258,697.04. Following the transaction, the insider now directly owns 106,533 shares in the company, valued at approximately $5,227,574.31. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sarah Friar sold 39,200 shares of the stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $50.07, for a total transaction of $1,962,744.00. Following the transaction, the chief financial officer now owns 346,649 shares in the company, valued at $17,356,715.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,310,855 shares of company stock worth $67,150,508. Insiders own 27.99% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in shares of Square by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 400,433 shares of the technology company’s stock worth $13,883,000 after acquiring an additional 8,626 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Square by 145.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 64,183 shares of the technology company’s stock worth $3,158,000 after acquiring an additional 38,069 shares during the period. Swiss National Bank lifted its holdings in shares of Square by 154.3% during the 4th quarter. Swiss National Bank now owns 929,100 shares of the technology company’s stock worth $32,212,000 after acquiring an additional 563,700 shares during the period. TCW Group Inc. purchased a new position in shares of Square during the 4th quarter worth about $9,614,000. Finally, IFM Investors Pty Ltd purchased a new position in shares of Square during the 4th quarter worth about $278,000. Institutional investors and hedge funds own 51.98% 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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