Deutsche Bank Increases Square (SQ) Price Target to $43.00

Square (NYSE:SQ) had its price objective lifted by Deutsche Bank from $37.00 to $43.00 in a research note issued on Thursday. The brokerage presently has a “buy” rating on the technology company’s stock. Deutsche Bank’s price target would indicate a potential downside of 1.87% from the company’s current price.

SQ has been the subject of several other research reports. Vetr lowered shares of Square from a “buy” rating to a “hold” rating and set a $45.60 price objective for the company. in a research report on Monday, November 20th. Cantor Fitzgerald increased their target price on shares of Square to $41.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. Oppenheimer reissued a “buy” rating on shares of Square in a research note on Monday, November 20th. Evercore ISI raised shares of Square from an “in-line” rating to an “outperform” rating and set a $51.00 target price on the stock in a research note on Friday, November 17th. Finally, Zacks Investment Research downgraded shares of Square from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $37.13.

Square (NYSE:SQ) traded up $1.97 during mid-day trading on Thursday, reaching $43.82. 6,135,116 shares of the company’s stock traded hands, compared to its average volume of 15,411,232. Square has a fifty-two week low of $13.84 and a fifty-two week high of $49.56. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $16,260.00 and a price-to-earnings ratio of -257.47.

In other Square news, CFO Sarah Friar sold 38,400 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $47.24, for a total transaction of $1,814,016.00. Following the transaction, the chief financial officer now owns 355,566 shares of the company’s stock, valued at approximately $16,796,937.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack Dorsey sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $40.48, for a total transaction of $2,024,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,228,341 shares of company stock worth $47,941,857 in the last three months. Insiders own 32.68% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its position in Square by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock valued at $1,084,000 after purchasing an additional 513 shares during the period. The Manufacturers Life Insurance Company increased its position in Square by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,706 shares of the technology company’s stock valued at $274,000 after purchasing an additional 921 shares during the period. BB&T Securities LLC increased its position in Square by 16.6% during the 4th 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. US Bancorp DE increased its position in Square by 20.2% during the 4th quarter. US Bancorp DE now owns 10,251 shares of the technology company’s stock valued at $355,000 after purchasing an additional 1,724 shares during the period. Finally, CIBC Asset Management Inc increased its position in Square by 19.9% during the 3rd quarter. CIBC Asset Management Inc now owns 12,521 shares of the technology company’s stock valued at $361,000 after purchasing an additional 2,075 shares during the period. 53.77% of the stock is currently 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.

Analyst Recommendations for Square (NYSE:SQ)

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