Square (SQ) Price Target Increased to $51.00 by Analysts at Barclays
Square (NYSE:SQ) had its price objective lifted by Barclays from $43.00 to $51.00 in a research note released on Wednesday, Marketbeat Ratings reports. The firm currently has an overweight rating on the technology company’s stock.
A number of other research analysts also recently issued reports on SQ. Vetr upgraded shares of Square from a buy rating to a strong-buy rating and set a $51.93 target price on the stock in a research report on Wednesday. KeyCorp restated an overweight rating and set a $52.00 target price (up from $40.00) on shares of Square in a research report on Wednesday, February 21st. Stephens restated a buy rating and set a $41.00 target price on shares of Square in a research report on Wednesday, January 10th. Deutsche Bank upped their target price on shares of Square from $37.00 to $43.00 and gave the company a buy rating in a research report on Thursday, February 15th. Finally, Craig Hallum restated a hold rating and set a $33.00 target price (up from $23.00) on shares of Square in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $42.56.
Square (SQ) opened at $46.02 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.81 and a debt-to-equity ratio of 0.46. Square has a 52-week low of $16.11 and a 52-week high of $49.56. The stock has a market cap of $17,877.92, a PE ratio of -287.63 and a beta of 4.56.
In related news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $41.43, for a total transaction of $1,590,912.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $45.66, for a total value of $18,264,000.00. Following the sale, the director now directly owns 468,020 shares of the company’s stock, valued at $21,369,793.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,526,919 shares of company stock valued at $61,991,861. 32.68% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SQ. Allianz Asset Management GmbH increased its stake in Square by 31.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock worth $383,235,000 after purchasing an additional 3,147,558 shares in the last quarter. Jennison Associates LLC bought a new stake in Square during the 4th quarter worth approximately $86,426,000. BlackRock Inc. increased its stake in Square by 18.4% during the 4th quarter. BlackRock Inc. now owns 13,005,859 shares of the technology company’s stock worth $450,913,000 after purchasing an additional 2,024,019 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Square by 458.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,962,828 shares of the technology company’s stock worth $68,051,000 after purchasing an additional 1,611,446 shares in the last quarter. Finally, Whale Rock Capital Management LLC bought a new position in shares of Square during the 3rd quarter worth approximately $44,337,000. 53.31% of the stock is owned by institutional investors and hedge funds.
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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.
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