Square (SQ) Price Target Lowered to $65.00 at SunTrust Banks

Square (NYSE:SQ) had its price objective cut by stock analysts at SunTrust Banks to $65.00 in a research report issued on Thursday, May 2nd, The Fly reports. The brokerage currently has a “hold” rating on the technology company’s stock. SunTrust Banks’ target price points to a potential upside of 0.53% from the company’s current price.

Several other research analysts have also recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $90.00 target price (down previously from $95.00) on shares of Square in a report on Thursday, May 2nd. ValuEngine cut shares of Square from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research cut shares of Square from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Sanford C. Bernstein started coverage on shares of Square in a research report on Tuesday, April 16th. They issued a “market perform” rating and a $80.00 price objective on the stock. Finally, Macquarie started coverage on shares of Square in a research report on Wednesday, March 27th. They issued an “outperform” rating and a $94.00 price objective on the stock. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. Square currently has a consensus rating of “Hold” and a consensus target price of $86.14.

Shares of SQ traded up $0.91 on Thursday, reaching $64.66. 7,116,398 shares of the company’s stock were exchanged, compared to its average volume of 11,955,481. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $27.28 billion, a price-to-earnings ratio of 3,233.00, a price-to-earnings-growth ratio of 17.58 and a beta of 3.49. Square has a 12 month low of $49.82 and a 12 month high of $101.15.

Square (NYSE:SQ) last issued its earnings results on Wednesday, May 1st. The technology company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.09). The firm had revenue of $489.00 million during the quarter, compared to the consensus estimate of $479.63 million. Square had a negative net margin of 1.47% and a positive return on equity of 1.86%. The firm’s revenue for the quarter was up 59.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. As a group, analysts expect that Square will post 0.15 EPS for the current year.

In related news, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $64.20, for a total value of $1,284,000.00. Following the transaction, the insider now directly owns 459,793 shares of the company’s stock, valued at approximately $29,518,710.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ajmere Dale sold 2,658 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $199,296.84. Following the completion of the transaction, the insider now directly owns 74,526 shares in the company, valued at $5,587,959.48. The disclosure for this sale can be found here. Insiders have sold a total of 716,606 shares of company stock worth $54,179,892 over the last ninety days. Insiders own 21.79% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQ. Lenox Wealth Management Inc. bought a new stake in shares of Square during the first quarter valued at about $25,000. Legacy Advisors LLC bought a new stake in shares of Square during the first quarter valued at about $27,000. FTB Advisors Inc. bought a new stake in shares of Square during the first quarter valued at about $27,000. Pearl River Capital LLC bought a new stake in shares of Square during the fourth quarter valued at about $28,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Square during the fourth quarter valued at about $28,000. 55.56% of the stock is currently owned by institutional investors and hedge funds.

Square Company Profile

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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