CSFB Boosts Square (NYSE:SQ) Price Target to $80.00

Square (NYSE:SQ) had its price objective increased by CSFB from $73.00 to $80.00 in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. CSFB currently has an outperform rating on the technology company’s stock.

Other equities analysts have also issued research reports about the company. Wells Fargo & Co decreased their price target on Square from $90.00 to $75.00 and set an overweight rating for the company in a research report on Wednesday, March 25th. Bank of America lowered Square from a neutral rating to an underperform rating and set a $84.00 price target for the company. in a research report on Monday, May 18th. Raymond James lowered Square from a market perform rating to an underperform rating in a research report on Thursday, April 16th. Atlantic Securities upgraded Square from an underweight rating to a neutral rating and set a $44.00 price objective for the company in a research report on Tuesday, March 17th. Finally, Royal Bank of Canada raised their price objective on Square from $55.00 to $74.00 and gave the stock an outperform rating in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Square has an average rating of Hold and a consensus target price of $68.93.

Shares of NYSE:SQ remained flat at $$81.49 during midday trading on Wednesday. The company had a trading volume of 6,193,079 shares, compared to its average volume of 14,014,477. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.19 and a current ratio of 2.19. Square has a fifty-two week low of $32.33 and a fifty-two week high of $87.25. The company has a market capitalization of $35.80 billion, a price-to-earnings ratio of 129.35 and a beta of 2.63. The company has a fifty day simple moving average of $64.23 and a two-hundred day simple moving average of $66.59.

Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.15). Square had a net margin of 5.99% and a return on equity of 0.44%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business earned ($0.06) EPS. The company’s revenue for the quarter was up 44.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Square will post -0.44 earnings per share for the current fiscal year.

In other Square news, insider Sivan Whiteley sold 1,945 shares of Square stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $54.78, for a total value of $106,547.10. Following the transaction, the insider now directly owns 107,975 shares of the company’s stock, valued at approximately $5,914,870.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jacqueline D. Reses sold 25,000 shares of Square stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $60.00, for a total value of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 228,525 shares in the company, valued at $13,711,500. The disclosure for this sale can be found here. Insiders sold a total of 69,722 shares of company stock worth $4,175,244 over the last three months. 21.79% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of SQ. Capital World Investors boosted its holdings in shares of Square by 86.1% in the 4th quarter. Capital World Investors now owns 17,798,895 shares of the technology company’s stock valued at $1,113,499,000 after purchasing an additional 8,237,229 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Square by 10.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,590,142 shares of the technology company’s stock valued at $449,952,000 after acquiring an additional 829,282 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in Square by 10.9% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,194,197 shares of the technology company’s stock worth $376,832,000 after purchasing an additional 708,667 shares during the last quarter. Sands Capital Management LLC bought a new position in Square during the 1st quarter worth $298,358,000. Finally, Bares Capital Management Inc. raised its position in Square by 6.6% during the 4th quarter. Bares Capital Management Inc. now owns 5,185,949 shares of the technology company’s stock worth $324,433,000 after purchasing an additional 321,411 shares during the last quarter. 58.60% of the stock is currently owned by institutional investors and hedge funds.

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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