Credit Suisse Group initiated coverage on shares of Square (NYSE:SQ) in a report published on Thursday, Benzinga reports. The firm issued an outperform rating and a $84.00 price target on the technology company’s stock.
Several other equities research analysts have also issued reports on SQ. Zacks Investment Research lowered shares of Square from a buy rating to a hold rating and set a $71.00 price target for the company. in a research note on Thursday, January 9th. Susquehanna Bancshares upgraded Square from a neutral rating to a positive rating and set a $77.00 price objective on the stock in a research note on Friday, October 11th. Macquarie initiated coverage on Square in a research note on Tuesday, November 26th. They issued an outperform rating and a $105.00 price objective on the stock. Stephens upgraded Square from an equal weight rating to an overweight rating and set a $78.00 price objective on the stock in a research note on Friday, January 10th. Finally, UBS Group reiterated a buy rating and issued a $77.00 price objective (down previously from $81.00) on shares of Square in a research note on Friday, November 8th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $73.03.
NYSE SQ traded up $1.85 during trading hours on Thursday, reaching $71.14. 10,973,523 shares of the company were exchanged, compared to its average volume of 7,220,764. Square has a 1 year low of $54.41 and a 1 year high of $83.20. The business’s 50 day simple moving average is $65.92 and its 200-day simple moving average is $65.89. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $29.51 billion, a P/E ratio of -592.78, a P/E/G ratio of 29.17 and a beta of 3.30.
In other Square news, insider Jacqueline D. Reses sold 28,568 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $67.00, for a total value of $1,914,056.00. Following the completion of the transaction, the insider now directly owns 253,035 shares in the company, valued at approximately $16,953,345. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alyssa Henry sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.17, for a total transaction of $1,403,400.00. Following the completion of the transaction, the insider now owns 415,604 shares of the company’s stock, valued at $29,162,932.68. The disclosure for this sale can be found here. Insiders sold a total of 241,743 shares of company stock valued at $15,546,094 in the last 90 days. 21.79% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in SQ. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Square by 26.4% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,971,195 shares of the technology company’s stock valued at $493,816,000 after buying an additional 1,667,227 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in Square by 32.9% in the third quarter. Nikko Asset Management Americas Inc. now owns 6,691,581 shares of the technology company’s stock worth $414,543,000 after buying an additional 1,656,927 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Square by 24.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,137,685 shares of the technology company’s stock worth $194,380,000 after buying an additional 620,149 shares during the period. Alpine Group USVI LLC purchased a new stake in Square in the third quarter worth about $37,405,000. Finally, Gladstone Capital Management LLP boosted its position in Square by 48.0% during the 3rd quarter. Gladstone Capital Management LLP now owns 1,640,230 shares of the technology company’s stock valued at $101,612,000 after acquiring an additional 531,722 shares in the last quarter. 57.77% of the stock is currently owned by hedge funds and other institutional investors.
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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