Square (SQ) Price Target Lowered to $75.00 at Stephens

Square (NYSE:SQ) had its price objective decreased by analysts at Stephens from $85.00 to $75.00 in a report released on Thursday, The Fly reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Stephens’ target price points to a potential upside of 7.77% from the stock’s current price. The analysts noted that the move was a valuation call.

Other analysts have also recently issued reports about the company. ValuEngine raised Square from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 2nd. Deutsche Bank lifted their price target on Square from $78.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Needham & Company LLC lifted their price target on Square from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 8th. Goldman Sachs Group lifted their price target on Square from $77.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, Buckingham Research lifted their price target on Square from $85.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have given a buy rating to the stock. Square has a consensus rating of “Hold” and an average target price of $82.89.

Shares of NYSE SQ traded down $0.31 during midday trading on Thursday, hitting $69.59. 272,322 shares of the company’s stock were exchanged, compared to its average volume of 16,784,892. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.80. Square has a 12 month low of $34.14 and a 12 month high of $101.15. The company has a market capitalization of $28.90 billion, a P/E ratio of -696.09 and a beta of 4.30.

Square (NYSE:SQ) last issued its earnings results on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Square had a negative return on equity of 1.11% and a negative net margin of 0.87%. The company had revenue of $431.00 million during the quarter, compared to the consensus estimate of $414.19 million. During the same period in the previous year, the company posted $0.07 EPS. The firm’s revenue for the quarter was up 67.7% compared to the same quarter last year. Analysts predict that Square will post -0.02 EPS for the current fiscal year.

In other news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $62.29, for a total transaction of $6,418,050.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $71.38, for a total value of $28,552,000.00. Following the sale, the director now owns 472,275 shares in the company, valued at approximately $33,710,989.50. The disclosure for this sale can be found here. Insiders have sold a total of 2,472,615 shares of company stock valued at $196,569,200 in the last three months. 27.99% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of SQ. CIBC Asset Management Inc grew its position in shares of Square by 5.3% in the 3rd quarter. CIBC Asset Management Inc now owns 14,784 shares of the technology company’s stock valued at $1,464,000 after buying an additional 738 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Square by 1.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 75,472 shares of the technology company’s stock valued at $7,472,000 after buying an additional 754 shares during the last quarter. Lincoln National Corp grew its position in shares of Square by 13.7% in the 2nd quarter. Lincoln National Corp now owns 6,327 shares of the technology company’s stock valued at $390,000 after buying an additional 764 shares during the last quarter. Alpha Cubed Investments LLC grew its position in shares of Square by 23.1% in the 3rd quarter. Alpha Cubed Investments LLC now owns 4,208 shares of the technology company’s stock valued at $312,000 after buying an additional 791 shares during the last quarter. Finally, IFP Advisors Inc grew its position in shares of Square by 5.7% in the 3rd quarter. IFP Advisors Inc now owns 15,264 shares of the technology company’s stock valued at $1,511,000 after buying an additional 818 shares during the last quarter. Institutional investors and hedge funds own 51.04% 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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