Square (SQ) PT Lowered to $92.00 at Piper Jaffray Companies

Square (NYSE:SQ) had its target price cut by Piper Jaffray Companies from $94.00 to $92.00 in a research report sent to investors on Thursday morning, Marketbeat.com reports. They currently have a neutral rating on the technology company’s stock.

SQ has been the topic of several other research reports. ValuEngine raised shares of Square from a buy rating to a strong-buy rating in a report on Tuesday, October 2nd. Wolfe Research initiated coverage on shares of Square in a report on Tuesday, July 17th. They issued a market perform rating on the stock. Deutsche Bank boosted their target price on shares of Square from $57.00 to $78.00 and gave the stock a buy rating in a report on Tuesday, July 24th. Stifel Nicolaus boosted their target price on shares of Square from $66.00 to $72.00 and gave the stock a buy rating in a report on Tuesday, July 31st. Finally, Goldman Sachs Group boosted their target price on shares of Square from $77.00 to $108.00 and gave the stock a buy rating in a report on Monday, October 8th. 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 given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $78.59.

Shares of SQ stock traded down $1.96 during mid-day trading on Thursday, hitting $73.27. The company had a trading volume of 17,258,235 shares, compared to its average volume of 13,558,816. Square has a 52-week low of $34.14 and a 52-week high of $101.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.18 and a current ratio of 2.18. The company has a market capitalization of $31.73 billion, a PE ratio of -732.70 and a beta of 4.30.

Square (NYSE:SQ) last released its earnings results on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. Square had a negative net margin of 2.30% and a negative return on equity of 3.18%. The firm had revenue of $431.00 million for the quarter, compared to the consensus estimate of $414.19 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was up 67.7% compared to the same quarter last year. On average, research analysts predict that Square will post -0.04 EPS for the current fiscal year.

In other Square news, insider Alyssa Henry sold 75,000 shares of the business’s stock in a transaction 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 owns 519,544 shares in the company, valued at $37,625,376.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ajmere Dale sold 4,096 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $89.99, for a total transaction of $368,599.04. Following the transaction, the insider now owns 93,255 shares in the company, valued at approximately $8,392,017.45. The disclosure for this sale can be found here. Insiders have sold 2,300,650 shares of company stock worth $187,755,700 in the last quarter. Company insiders own 27.99% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SQ. Centaurus Financial Inc. bought a new position in Square during the second quarter valued at $100,000. Huntington National Bank grew its holdings in shares of Square by 1,725.0% in the second quarter. Huntington National Bank now owns 1,825 shares of the technology company’s stock worth $112,000 after purchasing an additional 1,725 shares during the last quarter. Columbia Asset Management bought a new position in shares of Square in the third quarter worth about $114,000. Girard Partners LTD. bought a new position in shares of Square in the third quarter worth about $138,000. Finally, Rehmann Capital Advisory Group grew its holdings in shares of Square by 649.8% in the second quarter. Rehmann Capital Advisory Group now owns 2,317 shares of the technology company’s stock worth $143,000 after purchasing an additional 2,008 shares during the last quarter. Institutional investors and hedge funds own 51.25% 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 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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