Square (NYSE:SQ) had its price objective hoisted by SunTrust Banks to $75.00 in a report issued on Friday morning, The Fly reports. They currently have a hold rating on the technology company’s stock.
Several other research firms have also commented on SQ. Citigroup set a $95.00 price target on Square and gave the stock a buy rating in a report on Friday, July 19th. Evercore ISI lowered Square from an outperform rating to an underperform rating and reduced their price target for the stock from $101.00 to $64.00 in a report on Thursday. Zacks Investment Research upgraded Square from a hold rating to a buy rating and set a $77.00 price target on the stock in a report on Tuesday, May 7th. Sanford C. Bernstein began coverage on Square in a report on Tuesday, April 16th. They set a market perform rating and a $80.00 price target on the stock. Finally, Wedbush reiterated a neutral rating on shares of Square in a report on Monday, July 1st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have issued a buy rating to the stock. Square currently has an average rating of Buy and an average target price of $87.40.
Shares of NYSE SQ traded down $11.38 during trading on Friday, hitting $69.60. 43,696,160 shares of the company were exchanged, compared to its average volume of 6,864,466. Square has a 12-month low of $49.82 and a 12-month high of $101.15. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.50. The company’s fifty day moving average is $76.34. The stock has a market cap of $34.01 billion, a price-to-earnings ratio of 3,480.00, a PEG ratio of 21.55 and a beta of 3.31.
In other Square news, insider Ajmere Dale sold 2,296 shares of Square stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $60.86, for a total value of $139,734.56. Following the completion of the transaction, the insider now directly owns 79,725 shares of the company’s stock, valued at approximately $4,852,063.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline D. Reses sold 5,000 shares of Square stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $73.26, for a total value of $366,300.00. Following the completion of the transaction, the insider now directly owns 399,914 shares of the company’s stock, valued at $29,297,699.64. The disclosure for this sale can be found here. Insiders have sold a total of 72,249 shares of company stock valued at $5,144,475 over the last three months. Corporate insiders own 21.79% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQ. Jennison Associates LLC grew its position in Square by 56.6% in the 1st quarter. Jennison Associates LLC now owns 15,136,362 shares of the technology company’s stock valued at $1,134,016,000 after acquiring an additional 5,472,640 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Square by 28.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,303,968 shares of the technology company’s stock valued at $457,227,000 after acquiring an additional 1,410,744 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in Square by 37.0% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 5,034,654 shares of the technology company’s stock valued at $365,163,000 after acquiring an additional 1,359,963 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Square in the 1st quarter valued at about $34,164,000. Finally, Ardevora Asset Management LLP acquired a new position in Square in the 1st quarter valued at about $28,275,000. 52.06% of the stock is owned by institutional investors.
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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