Square (NYSE:SQ) had its price target hoisted by KeyCorp from $52.00 to $55.00 in a report published on Monday morning, MarketBeat Ratings reports. The firm currently has an overweight rating on the technology company’s stock.
Several other research firms have also recently weighed in on SQ. Zacks Investment Research upgraded shares of Square from a hold rating to a buy rating and set a $51.00 price target for the company in a report on Tuesday, January 23rd. Vetr upgraded shares of Square from a hold rating to a buy rating and set a $58.39 price target for the company in a report on Monday, March 26th. Cantor Fitzgerald reiterated an overweight rating and issued a $51.00 price target (up previously from $41.00) on shares of Square in a report on Wednesday, February 28th. Stephens reiterated a buy rating and issued a $41.00 price target on shares of Square in a report on Wednesday, January 10th. Finally, Credit Suisse Group upped their price target on shares of Square from $37.00 to $44.00 and gave the company a neutral rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $43.94.
Square stock opened at $44.75 on Monday. The company has a market capitalization of $19,956.52, a PE ratio of -447.50 and a beta of 4.21. Square has a twelve month low of $17.92 and a twelve month high of $58.46. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.
In other news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $41.43, for a total value of $1,590,912.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $45.66, for a total transaction of $18,264,000.00. Following the completion of the transaction, the director now directly owns 468,020 shares in the company, valued at $21,369,793.20. The disclosure for this sale can be found here. Insiders have sold 1,334,255 shares of company stock worth $64,240,770 over the last ninety days. Insiders own 32.68% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Square by 96.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 59,667 shares of the technology company’s stock valued at $2,069,000 after purchasing an additional 29,282 shares during the period. Xact Kapitalforvaltning AB bought a new position in shares of Square in the fourth quarter valued at about $1,310,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Square in the fourth quarter valued at about $3,535,000. BB&T Securities LLC raised its position in shares of Square by 16.6% in the fourth quarter. BB&T Securities LLC now owns 10,902 shares of the technology company’s stock valued at $377,000 after purchasing an additional 1,550 shares during the period. Finally, Leonetti & Associates LLC raised its position in shares of Square by 5.5% in the fourth quarter. Leonetti & Associates LLC now owns 118,075 shares of the technology company’s stock valued at $4,094,000 after purchasing an additional 6,150 shares during the period. 52.49% of the stock is currently 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 Europay, MasterCard, and Visa (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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