Square (NYSE:SQ) Price Target Raised to $125.00 at KeyCorp

Square (NYSE:SQ) had its target price upped by KeyCorp from $70.00 to $125.00 in a research report sent to investors on Monday morning, The Fly reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other research firms also recently weighed in on SQ. BMO Capital Markets decreased their price objective on Square from $78.00 to $67.00 and set a market perform rating for the company in a report on Thursday, March 26th. BTIG Research restated a hold rating on shares of Square in a report on Wednesday, May 6th. Needham & Company LLC increased their price target on Square from $60.00 to $75.00 and gave the stock a buy rating in a report on Thursday, May 7th. Credit Suisse Group increased their price target on Square from $73.00 to $80.00 and gave the stock an outperform rating in a report on Wednesday, May 20th. Finally, Oppenheimer started coverage on Square in a report on Wednesday, May 6th. They set a hold rating for the company. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Square has a consensus rating of Hold and a consensus price target of $75.85.

Shares of NYSE:SQ opened at $113.39 on Monday. The company has a fifty day moving average of $89.75 and a 200-day moving average of $71.99. The company has a market capitalization of $46.11 billion, a PE ratio of 179.99 and a beta of 2.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.19 and a current ratio of 2.19. Square has a 52-week low of $32.33 and a 52-week high of $118.78.

Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.15). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.30 billion. Square had a return on equity of 0.44% and a net margin of 5.99%. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) earnings per share. On average, equities analysts forecast that Square will post -0.56 EPS for the current fiscal year.

In other Square news, insider Brian Grassadonia sold 6,657 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $63.55, for a total value of $423,052.35. Following the completion of the transaction, the insider now directly owns 169,796 shares of the company’s stock, valued at approximately $10,790,535.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline D. Reses sold 25,000 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $60.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 228,525 shares of the company’s stock, valued at $13,711,500. The disclosure for this sale can be found here. Insiders sold a total of 73,506 shares of company stock valued at $4,865,131 over the last quarter. 21.79% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its holdings in shares of Square by 5.7% during the 1st quarter. Wells Fargo & Company MN now owns 2,166,981 shares of the technology company’s stock worth $113,507,000 after acquiring an additional 117,105 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Square during the 4th quarter worth $3,530,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Square by 9.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,422,268 shares of the technology company’s stock worth $214,097,000 after acquiring an additional 284,583 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Square by 766.0% during the 4th quarter. Captrust Financial Advisors now owns 8,868 shares of the technology company’s stock worth $566,000 after acquiring an additional 7,844 shares during the last quarter. Finally, Ellevest Inc. lifted its holdings in shares of Square by 39.8% during the 1st quarter. Ellevest Inc. now owns 888 shares of the technology company’s stock worth $47,000 after acquiring an additional 253 shares during the last quarter. 62.71% of the stock is owned by hedge funds and other institutional investors.

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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