Square (NYSE:SQ) has been assigned a $78.00 price target by investment analysts at Jefferies Financial Group in a report issued on Friday, TipRanks reports. The brokerage currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 21.29% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. Argus began coverage on shares of Square in a research note on Monday, July 8th. They issued a “buy” rating and a $94.00 price objective for the company. Evercore ISI lowered shares of Square from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $101.00 to $64.00 in a research note on Thursday, August 1st. Sanford C. Bernstein began coverage on shares of Square in a research note on Tuesday, April 16th. They issued a “market perform” rating and a $80.00 price objective for the company. Nomura raised their price objective on shares of Square from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $84.44.
NYSE:SQ traded down $0.54 during trading hours on Friday, reaching $64.31. 12,168,963 shares of the company’s stock were exchanged, compared to its average volume of 9,679,424. The stock has a market cap of $29.44 billion, a P/E ratio of 3,215.50, a P/E/G ratio of 18.66 and a beta of 3.31. 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 0.87, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a 50-day moving average price of $76.12.
In other news, insider Jacqueline D. Reses sold 5,000 shares of the firm’s stock in a transaction on 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 owns 373,984 shares in the company, valued at approximately $30,603,110.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alyssa Henry sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $64.20, for a total transaction of $1,284,000.00. Following the transaction, the insider now owns 459,793 shares in the company, valued at approximately $29,518,710.60. The disclosure for this sale can be found here. Insiders have sold a total of 77,249 shares of company stock worth $5,553,625 in the last 90 days. 21.79% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SQ. Lenox Wealth Management Inc. acquired a new stake in Square in the 1st quarter worth $25,000. Legacy Advisors LLC acquired a new stake in Square in the 1st quarter worth $27,000. FTB Advisors Inc. acquired a new stake in Square in the 1st quarter worth $27,000. Cullen Frost Bankers Inc. acquired a new stake in Square in the 1st quarter worth $28,000. Finally, Larson Financial Group LLC grew its position in Square by 130.7% in the 2nd quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock worth $27,000 after purchasing an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 52.64% of the company’s stock.
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.
Read More: P/E Growth (PEG)
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