Square (NYSE:SQ)‘s stock had its “overweight” rating restated by stock analysts at KeyCorp in a research report issued on Tuesday, The Fly reports. They currently have a $70.00 target price on the technology company’s stock. KeyCorp’s target price suggests a potential upside of 5.74% from the company’s current price.
Several other analysts also recently weighed in on the company. Raymond James began coverage on Square in a report on Friday. They issued a “market perform” rating for the company. They noted that the move was a valuation call. Wells Fargo & Co boosted their target price on Square from $42.00 to $60.00 and gave the company an “underperform” rating in a report on Thursday, June 14th. Buckingham Research downgraded Square from a “buy” rating to a “neutral” rating and boosted their target price for the company from $55.00 to $65.00 in a report on Wednesday, June 13th. They noted that the move was a valuation call. Stifel Nicolaus boosted their target price on Square from $55.00 to $66.00 and gave the company a “buy” rating in a report on Monday, June 4th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $69.00 target price (up from $51.00) on shares of Square in a report on Friday, June 1st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.00.
Square opened at $66.20 on Tuesday, MarketBeat reports. The stock has a market cap of $25.84 billion, a PE ratio of -662.00 and a beta of 4.32. Square has a 1 year low of $22.66 and a 1 year high of $66.44. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.
In related news, CFO Sarah Friar sold 39,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $50.07, for a total value of $1,962,744.00. Following the sale, the chief financial officer now owns 346,649 shares in the company, valued at approximately $17,356,715.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $46.90, for a total value of $18,760,000.00. Following the completion of the sale, the director now owns 468,223 shares in the company, valued at approximately $21,959,658.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,289,515 shares of company stock valued at $70,042,500. Company insiders own 27.99% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its holdings in shares of Square by 1,476.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock worth $114,000 after acquiring an additional 2,170 shares during the period. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Square in the 1st quarter worth approximately $138,000. American International Group Inc. acquired a new stake in Square during the 4th quarter valued at $200,000. Commerce Bank acquired a new stake in Square during the 4th quarter valued at $201,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in Square during the 1st quarter valued at $220,000. Institutional investors and hedge funds own 51.91% 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.
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