Craig Hallum Increases Square (SQ) Price Target to $55.00

Square (NYSE:SQ) had its price target increased by analysts at Craig Hallum from $37.00 to $55.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has a “sell” rating on the technology company’s stock. Craig Hallum’s target price points to a potential downside of 24.94% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Credit Suisse Group upped their price target on Square from $81.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 10th. Guggenheim upped their price target on Square from $75.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, August 29th. Mizuho upped their price target on Square from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on Square to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 2nd. Finally, Buckingham Research upped their price target on Square from $85.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, September 26th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $78.59.

NYSE:SQ traded down $1.96 during midday trading on Thursday, hitting $73.27. 17,254,739 shares of the stock were exchanged, compared to its average volume of 20,881,962. Square has a one year low of $34.14 and a one year high of $101.15. The stock has a market cap of $33.94 billion, a price-to-earnings ratio of -732.70 and a beta of 4.30. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.18 and a quick ratio of 2.18.

Square (NYSE:SQ) last announced its earnings results on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Square had a negative return on equity of 1.18% and a negative net margin of 0.87%. The firm had revenue of $431.00 million for the quarter, compared to analysts’ expectations of $414.19 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The firm’s quarterly revenue was up 67.7% compared to the same quarter last year. On average, sell-side analysts expect that Square will post -0.04 EPS for the current year.

In other Square news, insider Alyssa Henry sold 75,000 shares of Square stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $72.42, for a total transaction of $5,431,500.00. Following the transaction, the insider now directly owns 519,544 shares in the company, valued at approximately $37,625,376.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $76.02, for a total transaction of $7,832,720.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,300,650 shares of company stock worth $187,755,700. Corporate insiders own 27.99% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its holdings in shares of Square by 149.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 85,723 shares of the technology company’s stock valued at $7,656,000 after acquiring an additional 51,400 shares in the last quarter. CIBC World Markets Inc. grew its holdings in shares of Square by 89.6% during the 3rd quarter. CIBC World Markets Inc. now owns 99,268 shares of the technology company’s stock valued at $9,829,000 after acquiring an additional 46,900 shares in the last quarter. FIL Ltd grew its holdings in shares of Square by 75.2% during the 3rd quarter. FIL Ltd now owns 2,965,450 shares of the technology company’s stock valued at $293,609,000 after acquiring an additional 1,272,790 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Square by 769.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 2,260 shares of the technology company’s stock valued at $224,000 after acquiring an additional 2,000 shares in the last quarter. Finally, TTP Investments Inc. grew its holdings in shares of Square by 345.9% during the 3rd quarter. TTP Investments Inc. now owns 42,337 shares of the technology company’s stock valued at $4,192,000 after acquiring an additional 32,842 shares in the last quarter. Hedge funds and other institutional investors own 51.25% 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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