Square (NYSE:SQ) Price Target Raised to $43.00

Square (NYSE:SQ) had its price target increased by Deutsche Bank from $37.00 to $43.00 in a report published on Thursday, February 15th. Deutsche Bank currently has a buy rating on the technology company’s stock.

A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Square from a hold rating to a buy rating and set a $49.00 price target on the stock in a research report on Monday, February 5th. Susquehanna Bancshares lifted their price objective on Square from $43.00 to $51.00 and gave the stock a positive rating in a research note on Monday, February 5th. Vetr raised Square from a hold rating to a buy rating and set a $48.00 price target on the stock in a research note on Monday, February 5th. Nomura reissued a buy rating and issued a $64.00 price target (up from $48.00) on shares of Square in a research note on Friday, January 19th. Finally, Stephens reaffirmed a buy rating and set a $41.00 target price on shares of Square in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Square presently has an average rating of Buy and an average target price of $42.56.

Square (NYSE:SQ) opened at $46.02 on Thursday. Square has a 52 week low of $16.11 and a 52 week high of $49.56. The firm has a market cap of $17,880.00 and a price-to-earnings ratio of -270.71. The company has a quick ratio of 1.81, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

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

In other news, insider Ajmere Dale sold 1,451 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the completion of the transaction, the insider now owns 109,586 shares in the company, valued at approximately $4,383,440. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were 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 of the company’s stock, valued at approximately $2,583,975.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,524,105 shares of company stock worth $61,887,096. Corporate insiders own 32.68% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQ. Schwab Charles Investment Management Inc. raised its stake in Square by 1.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock valued at $1,084,000 after buying an additional 513 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Square by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,706 shares of the technology company’s stock valued at $274,000 after buying an additional 921 shares during the last quarter. BB&T Securities LLC raised its stake in Square by 16.6% during the fourth quarter. BB&T Securities LLC now owns 10,902 shares of the technology company’s stock valued at $377,000 after buying an additional 1,550 shares during the last quarter. US Bancorp DE raised its stake in Square by 20.2% during the fourth quarter. US Bancorp DE now owns 10,251 shares of the technology company’s stock valued at $355,000 after buying an additional 1,724 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Square by 19.9% during the third quarter. CIBC Asset Management Inc now owns 12,521 shares of the technology company’s stock valued at $361,000 after buying an additional 2,075 shares during the last quarter. Institutional investors own 53.31% of the company’s stock.

About Square:

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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Source : https://ledgergazette.com/2018/03/05/deutsche-bank-increases-square-sq-price-target-to-43-00.html

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