Needham & Company LLC Increases Square (NYSE:SQ) Price Target to $230.00

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Square (NYSE:SQ) had its target price increased by Needham & Company LLC from $190.00 to $230.00 in a research note released on Friday, Anlyst Ratings reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the company. Barclays lifted their target price on Square from $185.00 to $215.00 and gave the company an overweight rating in a research report on Wednesday, October 21st. Loop Capital started coverage on Square in a research report on Tuesday, September 22nd. They set a buy rating and a $169.00 target price for the company. Royal Bank of Canada lifted their target price on Square from $200.00 to $240.00 and gave the company an outperform rating in a research report on Friday, October 16th. Credit Suisse Group lifted their target price on Square from $170.00 to $175.00 and gave the company an outperform rating in a research report on Monday, September 28th. Finally, BMO Capital Markets lifted their target price on Square from $116.00 to $153.00 and gave the company a market perform rating in a research report on Friday, August 7th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Square currently has a consensus rating of Buy and a consensus target price of $142.71.

Shares of SQ stock opened at $198.08 on Friday. Square has a 52-week low of $32.33 and a 52-week high of $201.33. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $87.85 billion, a P/E ratio of 319.48 and a beta of 2.68. The stock has a 50 day moving average price of $169.59 and a 200 day moving average price of $125.57.

Square (NYSE:SQ) last issued its quarterly earnings results on Thursday, November 5th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.18. Square had a negative return on equity of 1.20% and a net margin of 5.15%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company earned $0.25 EPS. Square’s quarterly revenue was up 139.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Square will post -0.23 EPS for the current year.

In other Square news, insider Alyssa Henry sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $141.32, for a total value of $1,413,200.00. Following the sale, the insider now directly owns 433,930 shares in the company, valued at $61,322,987.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sivan Whiteley sold 2,662 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $167.81, for a total value of $446,710.22. Following the completion of the sale, the insider now owns 138,268 shares in the company, valued at $23,202,753.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 685,877 shares of company stock worth $111,603,815. 21.79% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SQ. Diversified Trust Co acquired a new stake in shares of Square during the second quarter worth about $324,000. DNB Asset Management AS increased its position in shares of Square by 8.7% during the second quarter. DNB Asset Management AS now owns 56,240 shares of the technology company’s stock worth $5,902,000 after purchasing an additional 4,479 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Square by 10.3% during the second quarter. Envestnet Asset Management Inc. now owns 66,215 shares of the technology company’s stock worth $6,949,000 after purchasing an additional 6,209 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of Square during the second quarter worth about $232,000. Finally, Joseph P. Lucia & Associates LLC increased its position in shares of Square by 340.0% during the second quarter. Joseph P. Lucia & Associates LLC now owns 3,520 shares of the technology company’s stock worth $369,000 after purchasing an additional 2,720 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

About Square

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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