Square (NYSE:SQ) had its price target cut by Rosenblatt Securities from $72.00 to $52.00 in a research report released on Tuesday morning, AnalystRatings.com reports. They currently have a neutral rating on the technology company’s stock.
A number of other research analysts have also recently weighed in on the stock. Guggenheim lifted their price target on shares of Square from $73.00 to $93.00 and gave the company a buy rating in a research report on Thursday, February 27th. Cowen raised shares of Square from a market perform rating to an outperform rating and set a $70.00 price objective for the company in a research report on Tuesday, March 17th. Compass Point initiated coverage on shares of Square in a research note on Thursday, December 5th. They issued a neutral rating and a $70.00 target price on the stock. Macquarie started coverage on shares of Square in a report on Tuesday, November 26th. They set an outperform rating and a $105.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Square from $75.00 to $86.00 and gave the stock an overweight rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Square currently has a consensus rating of Hold and a consensus price target of $67.32.
Square stock traded up $6.08 during midday trading on Tuesday, reaching $52.39. The stock had a trading volume of 34,902,537 shares, compared to its average volume of 12,601,106. Square has a twelve month low of $32.33 and a twelve month high of $87.25. The stock has a market capitalization of $17.41 billion, a PE ratio of 67.17, a price-to-earnings-growth ratio of 78.11 and a beta of 2.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s 50-day simple moving average is $70.25 and its 200 day simple moving average is $65.95.
In other news, insider Jacqueline D. Reses sold 5,596 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $70.98, for a total value of $397,204.08. Following the sale, the insider now owns 229,652 shares in the company, valued at approximately $16,300,698.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jacqueline D. Reses sold 82,720 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $63.64, for a total transaction of $5,264,300.80. Following the completion of the sale, the insider now owns 248,534 shares in the company, valued at approximately $15,816,703.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,316 shares of company stock worth $7,064,905. 21.79% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of Square by 395.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,209 shares of the technology company’s stock worth $70,000 after purchasing an additional 965 shares during the period. RMR Wealth Builders acquired a new position in Square during the 4th quarter valued at approximately $201,000. Norges Bank bought a new position in Square during the 4th quarter worth $228,755,000. Verus Capital Partners LLC bought a new position in Square during the 4th quarter worth $136,000. Finally, Pearl River Capital LLC bought a new position in Square during the 4th quarter worth $570,000. 58.59% of the stock is currently owned by institutional investors and hedge funds.
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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