Square (SQ) Price Target Raised to $40.00

Square (NYSE:SQ) had its price objective upped by Morgan Stanley from $26.00 to $40.00 in a research report sent to investors on Tuesday, The Fly reports. Morgan Stanley currently has a hold rating on the technology company’s stock. The analysts noted that the move was a valuation call.

SQ has been the subject of several other research reports. Citigroup increased their target price on shares of Square from $30.00 to $38.00 and gave the company a buy rating in a research note on Wednesday, October 18th. Vetr cut shares of Square from a strong-buy rating to a buy rating and set a $30.12 target price for the company. in a research note on Tuesday, September 12th. Goldman Sachs Group upgraded shares of Square to a buy rating in a research note on Thursday, November 16th. Oppenheimer initiated coverage on shares of Square in a research note on Thursday, October 12th. They issued an outperform rating and a $35.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Square from a hold rating to a buy rating and set a $32.00 target price for the company in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Square currently has an average rating of Buy and an average target price of $34.45.

Square (SQ) traded down $0.88 during midday trading on Tuesday, hitting $34.99. 6,221,265 shares of the company traded hands, compared to its average volume of 9,435,619. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81. Square has a twelve month low of $13.53 and a twelve month high of $49.56.

Square (NYSE:SQ) last released its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The business had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. During the same quarter last year, the company earned $0.01 earnings per share. The firm’s revenue was up 44.6% on a year-over-year basis. sell-side analysts anticipate that Square will post -0.16 earnings per share for the current year.

In related news, insider Ajmere Dale sold 2,814 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $37.23, for a total value of $104,765.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $32.72, for a total transaction of $13,088,000.00. Following the completion of the sale, the director now directly owns 507,732 shares of the company’s stock, valued at approximately $16,612,991.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,616,530 shares of company stock valued at $60,129,547. Company insiders own 32.68% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Almanack Investment Partners LLC. acquired a new stake in shares of Square in the second quarter valued at approximately $117,000. Riverhead Capital Management LLC acquired a new stake in shares of Square in the second quarter valued at approximately $149,000. Hudock Capital Group LLC acquired a new stake in shares of Square in the third quarter valued at approximately $157,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Square by 19.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,099 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Square by 42.2% in the second quarter. Pacer Advisors Inc. now owns 8,368 shares of the technology company’s stock valued at $196,000 after purchasing an additional 2,485 shares in the last quarter. 54.20% of the stock is owned by institutional investors and hedge funds.

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Square Company Profile

Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.

The Fly

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