Morgan Stanley set a $74.00 price target on Square (NYSE:SQ) in a research note issued to investors on Friday, TipRanks reports. The brokerage currently has a hold rating on the technology company’s stock.
Several other equities analysts have also commented on SQ. Jefferies Financial Group set a $78.00 price objective on shares of Square and gave the company a hold rating in a research report on Friday. Citigroup set a $95.00 price objective on shares of Square and gave the company a buy rating in a research report on Friday, July 19th. Wedbush reiterated a neutral rating on shares of Square in a research report on Monday, July 1st. BTIG Research reiterated a sell rating and set a $30.00 price objective on shares of Square in a research report on Sunday. Finally, Raymond James upgraded shares of Square from an underperform rating to a market perform rating and set a $74.15 price objective for the company in a research report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $84.44.
SQ traded down $0.25 during trading on Friday, hitting $64.60. 14,252,550 shares of the company traded hands, compared to its average volume of 9,679,424. The company has a market cap of $29.44 billion, a P/E ratio of 3,230.00, a PEG ratio of 18.66 and a beta of 3.31. The stock has a 50-day moving average price of $76.12. Square has a 1 year low of $49.82 and a 1 year high of $101.15. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.49 and a current ratio of 1.49.
In other Square news, insider Ajmere Dale sold 2,296 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $60.86, for a total transaction of $139,734.56. Following the transaction, the insider now owns 79,725 shares of the company’s stock, valued at approximately $4,852,063.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline D. Reses sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.83, for a total transaction of $409,150.00. Following the transaction, the insider now directly owns 373,984 shares in the company, valued at approximately $30,603,110.72. The disclosure for this sale can be found here. Insiders sold a total of 77,249 shares of company stock worth $5,553,625 in the last ninety days. 21.79% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank Hapoalim BM increased its position in Square by 124.9% during the 2nd quarter. Bank Hapoalim BM now owns 7,445 shares of the technology company’s stock valued at $540,000 after purchasing an additional 4,135 shares during the period. Enlightenment Research LLC increased its position in Square by 53.6% during the 2nd quarter. Enlightenment Research LLC now owns 17,200 shares of the technology company’s stock valued at $1,253,000 after purchasing an additional 6,000 shares during the period. Great Lakes Advisors LLC increased its position in Square by 48.8% during the 2nd quarter. Great Lakes Advisors LLC now owns 47,093 shares of the technology company’s stock valued at $3,416,000 after purchasing an additional 15,449 shares during the period. Teacher Retirement System of Texas increased its position in Square by 526.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 257,833 shares of the technology company’s stock valued at $18,701,000 after purchasing an additional 216,674 shares during the period. Finally, Bbva USA Bancshares Inc. purchased a new position in Square during the 2nd quarter valued at about $264,000. 52.64% 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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