Morgan Stanley Analysts Give Square (NYSE:SQ) a $74.00 Price Target

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.

Square (NYSE:SQ) last posted its earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.20. The company had revenue of $563.00 million during the quarter, compared to analysts’ expectations of $557.67 million. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. Square’s quarterly revenue was up 46.2% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. Analysts anticipate that Square will post 0.15 earnings per share for the current fiscal year.

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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Analyst Recommendations for Square (NYSE:SQ)

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