Square (NYSE:SQ) PT Lowered to $200.00 at Jefferies Financial Group

Square (NYSE:SQ) had its price target reduced by Jefferies Financial Group from $240.00 to $200.00 in a research report released on Wednesday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock. Jefferies Financial Group also issued estimates for Square’s Q4 2021 earnings at ($0.12) EPS, FY2021 earnings at $0.50 EPS, Q1 2022 earnings at ($0.07) EPS, Q2 2022 earnings at $0.00 EPS, Q3 2022 earnings at ($0.10) EPS, Q4 2022 earnings at ($0.07) EPS, FY2022 earnings at ($0.24) EPS, FY2023 earnings at ($0.12) EPS, FY2024 earnings at $0.09 EPS and FY2025 earnings at $0.16 EPS.

SQ has been the subject of several other research reports. Sumitomo Mitsui Financial Group assumed coverage on shares of Square in a research note on Wednesday, November 3rd. They set an outperform rating and a $300.00 target price for the company. Wedbush lowered their target price on shares of Square from $250.00 to $190.00 and set a neutral rating for the company in a research note on Monday, December 20th. Zacks Investment Research upgraded shares of Square from a hold rating to a strong-buy rating and set a $260.00 target price for the company in a research note on Tuesday, October 5th. UBS Group initiated coverage on shares of Square in a research note on Wednesday, November 17th. They set a buy rating and a $322.00 target price for the company. Finally, Truist Securities reduced their price target on shares of Square from $315.00 to $250.00 in a report on Monday, January 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $278.81.

SQ opened at $133.29 on Wednesday. The firm has a market capitalization of $61.48 billion, a P/E ratio of 124.57, a P/E/G ratio of 9.21 and a beta of 2.30. The firm’s 50 day moving average is $185.16 and its 200-day moving average is $230.23. Square has a 52-week low of $129.31 and a 52-week high of $289.23. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.58.

Square (NYSE:SQ) last issued its quarterly earnings results on Thursday, November 4th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.26. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $4.48 billion. Square had a net margin of 3.21% and a return on equity of 14.15%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Equities analysts expect that Square will post 0.49 earnings per share for the current fiscal year.

In related news, CAO Ajmere Dale sold 500 shares of Square stock in a transaction on Friday, November 5th. The shares were sold at an average price of $250.00, for a total value of $125,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sivan Whiteley sold 6,668 shares of the business’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $255.49, for a total transaction of $1,703,607.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,094 shares of company stock worth $8,494,506. Corporate insiders own 15.12% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Square by 0.8% during the second quarter. Vanguard Group Inc. now owns 24,760,800 shares of the technology company’s stock worth $6,036,683,000 after buying an additional 195,530 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Square by 27.3% in the 3rd quarter. Jennison Associates LLC now owns 13,593,935 shares of the technology company’s stock worth $3,260,369,000 after acquiring an additional 2,914,690 shares during the period. Sands Capital Management LLC lifted its position in shares of Square by 45.4% in the 3rd quarter. Sands Capital Management LLC now owns 10,585,033 shares of the technology company’s stock worth $2,538,714,000 after acquiring an additional 3,307,189 shares during the period. Lone Pine Capital LLC grew its holdings in shares of Square by 81.7% during the 2nd quarter. Lone Pine Capital LLC now owns 5,715,271 shares of the technology company’s stock worth $1,393,383,000 after purchasing an additional 2,570,126 shares in the last quarter. Finally, Coatue Management LLC grew its holdings in shares of Square by 17.5% during the 2nd quarter. Coatue Management LLC now owns 4,559,178 shares of the technology company’s stock worth $1,111,528,000 after purchasing an additional 679,147 shares in the last quarter. 75.64% 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.

Featured Story: What is included in the gross domestic product?

The Fly logo

Analyst Recommendations for Square (NYSE:SQ)

Receive News & Ratings for Square Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square and related companies with MarketBeat.com's FREE daily email newsletter.