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Square (NYSE:SQ - Get Rating) had its price target cut by investment analysts at Wells Fargo & Company from $165.00 to $120.00 in a report released on Tuesday, The Fly reports. The brokerage currently has a "maintains" rating on the technology company's stock. Wells Fargo & Company's target price would indicate a potential upside of 64.25% from the stock's current price.
A number of other brokerages also recently weighed in on SQ. Credit Suisse Group cut their price objective on Square from $180.00 to $170.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 15th. KeyCorp cut their price objective on Square from $180.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, July 7th. Wolfe Research dropped their price target on Square from $90.00 to $85.00 in a research report on Wednesday, July 20th. Jefferies Financial Group dropped their price target on Square from $155.00 to $140.00 in a research report on Wednesday, May 4th. Finally, Truist Financial dropped their price target on Square from $145.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty-eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $163.60.
NYSE SQ traded up $0.30 during trading hours on Tuesday, hitting $73.06. The company had a trading volume of 304,010 shares, compared to its average volume of 19,326,406. The firm has a market cap of $42.38 billion, a P/E ratio of -485.03 and a beta of 2.45. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.26. Square has a fifty-two week low of $56.01 and a fifty-two week high of $289.23. The business has a fifty day simple moving average of $71.54 and a 200-day simple moving average of $99.63.
Square (NYSE:SQ - Get Rating) last released its quarterly earnings results on Thursday, May 5th. The technology company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.08). Square had a negative net margin of 0.46% and a positive return on equity of 0.74%. The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the business earned $0.41 EPS. The company's revenue for the quarter was down 21.7% compared to the same quarter last year. Equities analysts predict that Square will post -0.79 EPS for the current year.
In related news, CFO Amrita Ahuja sold 3,814 shares of the business's stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $98.47, for a total value of $375,564.58. Following the completion of the sale, the chief financial officer now owns 159,678 shares in the company, valued at approximately $15,723,492.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Square news, CAO Ajmere Dale sold 883 shares of the business's stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $62.63, for a total value of $55,302.29. Following the sale, the chief accounting officer now directly owns 48,797 shares of the company's stock, valued at $3,056,156.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amrita Ahuja sold 3,814 shares of the company's stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $98.47, for a total value of $375,564.58. Following the transaction, the chief financial officer now directly owns 159,678 shares in the company, valued at $15,723,492.66. The disclosure for this sale can be found here. Insiders sold a total of 291,141 shares of company stock valued at $20,909,072 in the last ninety days. 11.52% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Summit Trail Advisors LLC boosted its holdings in shares of Square by 9.4% in the 4th quarter. Summit Trail Advisors LLC now owns 1,268 shares of the technology company's stock worth $205,000 after purchasing an additional 109 shares during the period. Oarsman Capital Inc. increased its position in Square by 7.4% during the 4th quarter. Oarsman Capital Inc. now owns 1,953 shares of the technology company's stock valued at $315,000 after buying an additional 134 shares in the last quarter. GraniteShares Advisors LLC grew its stake in Square by 7.2% during the 1st quarter. GraniteShares Advisors LLC now owns 2,266 shares of the technology company's stock valued at $307,000 after purchasing an additional 153 shares during the last quarter. Arlington Partners LLC grew its stake in Square by 200.0% during the 1st quarter. Arlington Partners LLC now owns 234 shares of the technology company's stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its stake in shares of Square by 1.2% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 13,345 shares of the technology company's stock worth $2,155,000 after buying an additional 164 shares during the last quarter. Institutional investors own 54.56% of the company's stock.
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.Read MoreGet a free copy of the StockNews.com research report on Square (SQ)Ford Stock Rallies As EV Strategy Takes Center StageShould High Yield Altria Be In Your Portfolio?Is Keurig-Dr. Pepper A Value Worth Buying? C3.AI Stock is a Bargain Enterprise Artificial Intelligence Game Changer Did The FOMC Put A Bottom In The S&P 500?
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