Square (NYSE:SQ) Price Target Increased to $371.00 by Analysts at Evercore ISI

Square (NYSE:SQ) had its target price boosted by investment analysts at Evercore ISI from $361.00 to $371.00 in a report issued on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price target indicates a potential upside of 51.31% from the stock’s current price.

Several other equities research analysts have also recently commented on SQ. Raymond James raised Square from an “underperform” rating to a “market perform” rating in a report on Tuesday, August 3rd. BMO Capital Markets raised their target price on Square from $225.00 to $259.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 3rd. Keefe, Bruyette & Woods raised their target price on Square from $281.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 3rd. TheStreet raised Square from a “c” rating to a “b-” rating in a research note on Tuesday, August 17th. Finally, Robert W. Baird reissued a “hold” rating and set a $250.00 target price on shares of Square in a research note on Thursday, August 5th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $270.58.

Shares of NYSE:SQ traded down $1.86 during midday trading on Wednesday, hitting $245.19. The company had a trading volume of 128,624 shares, compared to its average volume of 9,489,805. Square has a twelve month low of $139.31 and a twelve month high of $289.23. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $112.71 billion, a price-to-earnings ratio of 215.08, a price-to-earnings-growth ratio of 9.78 and a beta of 2.43. The business’s 50-day simple moving average is $259.03 and its 200-day simple moving average is $240.90.

Square (NYSE:SQ) last posted its quarterly earnings results on Saturday, July 31st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.31 by $0.35. Square had a return on equity of 16.94% and a net margin of 3.60%. The firm had revenue of $4.68 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was up 143.3% on a year-over-year basis. As a group, sell-side analysts forecast that Square will post 0.81 EPS for the current year.

In other news, insider Sivan Whiteley sold 8,119 shares of Square stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $266.28, for a total transaction of $2,161,927.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 29th. The shares were sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the transaction, the chief accounting officer now owns 41,293 shares in the company, valued at approximately $10,323,250. The disclosure for this sale can be found here. Insiders have sold a total of 493,992 shares of company stock valued at $124,873,619 over the last ninety days. 15.12% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the company. J Arnold Wealth Management Co raised its holdings in Square by 3.8% in the 2nd quarter. J Arnold Wealth Management Co now owns 3,289 shares of the technology company’s stock valued at $802,000 after acquiring an additional 119 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of Square by 32.4% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 8,333 shares of the technology company’s stock worth $2,032,000 after buying an additional 2,037 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Square by 11.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 449,959 shares of the technology company’s stock worth $109,700,000 after buying an additional 45,623 shares during the last quarter. BDO Wealth Advisors LLC increased its holdings in Square by 140.0% in the 2nd quarter. BDO Wealth Advisors LLC now owns 600 shares of the technology company’s stock valued at $146,000 after purchasing an additional 350 shares in the last quarter. Finally, Comerica Bank increased its holdings in Square by 1.1% in the 2nd quarter. Comerica Bank now owns 21,740 shares of the technology company’s stock valued at $5,595,000 after purchasing an additional 242 shares in the last quarter. 62.65% of the stock is currently owned by institutional investors and hedge funds.

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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