Bank of America Boosts Square (NYSE:SQ) Price Target to $89.00

Square (NYSE:SQ) had its target price raised by Bank of America from $75.00 to $89.00 in a report issued on Tuesday morning, Stock Target Advisor reports. The firm currently has a buy rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. Stephens raised Square from an equal weight rating to an overweight rating and set a $78.00 price objective on the stock in a research note on Friday, January 10th. Evercore ISI dropped their price objective on Square from $50.00 to $37.00 and set an underperform rating on the stock in a research note on Thursday, November 7th. Berenberg Bank increased their price objective on Square from $58.00 to $67.00 and gave the stock a hold rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reissued a buy rating and issued a $78.00 price objective on shares of Square in a research note on Monday, January 20th. Finally, BMO Capital Markets dropped their price objective on Square to $78.00 and set a market perform rating on the stock in a research note on Friday, November 8th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Square presently has a consensus rating of Hold and a consensus target price of $73.45.

Shares of NYSE:SQ opened at $81.86 on Tuesday. Square has a 52-week low of $54.41 and a 52-week high of $83.20. The stock has a market cap of $34.80 billion, a P/E ratio of 578.50, a price-to-earnings-growth ratio of 34.88 and a beta of 3.26. The business’s 50 day moving average is $70.66 and its 200 day moving average is $65.62. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

In related news, insider Jacqueline D. Reses sold 28,568 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $67.00, for a total value of $1,914,056.00. Following the completion of the transaction, the insider now owns 253,035 shares in the company, valued at approximately $16,953,345. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline D. Reses sold 5,596 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $70.98, for a total value of $397,204.08. Following the completion of the transaction, the insider now owns 229,652 shares of the company’s stock, valued at approximately $16,300,698.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,884 shares of company stock valued at $10,309,761. Company insiders own 21.79% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Juncture Wealth Strategies LLC raised its stake in shares of Square by 2.2% during the 4th quarter. Juncture Wealth Strategies LLC now owns 7,610 shares of the technology company’s stock valued at $476,000 after buying an additional 162 shares during the last quarter. Strategic Advisors LLC grew its position in shares of Square by 4.6% during the 4th quarter. Strategic Advisors LLC now owns 4,023 shares of the technology company’s stock valued at $252,000 after acquiring an additional 178 shares during the period. Berkeley Capital Partners LLC grew its position in shares of Square by 2.4% during the 3rd quarter. Berkeley Capital Partners LLC now owns 8,462 shares of the technology company’s stock valued at $524,000 after acquiring an additional 195 shares during the period. Trustcore Financial Services LLC grew its position in shares of Square by 5.1% during the 3rd quarter. Trustcore Financial Services LLC now owns 4,117 shares of the technology company’s stock valued at $255,000 after acquiring an additional 200 shares during the period. Finally, Benjamin Edwards Inc. grew its position in shares of Square by 39.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 712 shares of the technology company’s stock valued at $44,000 after acquiring an additional 200 shares during the period. Institutional investors own 57.75% of the company’s stock.

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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