Square (NYSE:SQ) Price Target Cut to $180.00 by Analysts at Credit Suisse Group

Square (NYSE:SQ – Get Rating) had its price target reduced by analysts at Credit Suisse Group from $190.00 to $180.00 in a research note issued to investors on Monday, The Fly reports. Credit Suisse Group’s price target would suggest a potential upside of 75.32% from the company’s previous close.

Other analysts have also recently issued reports about the company. Stephens initiated coverage on Square in a research report on Wednesday, April 6th. They issued an “overweight” rating and a $170.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Square from $210.00 to $180.00 and set a “buy” rating for the company in a report on Friday, February 25th. Citigroup began coverage on shares of Square in a research report on Friday, February 11th. They set a “buy” rating and a $220.00 price target on the stock. CLSA initiated coverage on shares of Square in a research note on Thursday, March 31st. They set a “buy” rating and a $180.00 price objective on the stock. Finally, Susquehanna decreased their price target on Square from $275.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, February 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $211.44.

NYSE:SQ opened at $102.67 on Monday. The firm has a market capitalization of $59.55 billion, a P/E ratio of 331.19 and a beta of 2.31. The business has a 50 day simple moving average of $119.58 and a 200 day simple moving average of $161.39. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.94 and a quick ratio of 1.94. Square has a 12-month low of $82.72 and a 12-month high of $289.23.

Square (NYSE:SQ – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The technology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.06 billion. Square had a net margin of 0.94% and a return on equity of 10.08%. The company’s quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Research analysts anticipate that Square will post -0.16 EPS for the current fiscal year.

In other Square news, insider Brian Grassadonia sold 5,051 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $141.79, for a total value of $716,181.29. Following the completion of the transaction, the insider now owns 128,744 shares of the company’s stock, valued at approximately $18,254,611.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Amrita Ahuja sold 3,609 shares of Square stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $127.61, for a total value of $460,544.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,578 shares of company stock valued at $2,544,542. 15.12% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ibex Wealth Advisors acquired a new stake in Square in the 3rd quarter valued at $25,000. Bell Investment Advisors Inc bought a new position in Square during the 3rd quarter valued at about $30,000. Moors & Cabot Inc. lifted its holdings in Square by 56.0% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the technology company’s stock valued at $32,000 after purchasing an additional 8,974 shares during the last quarter. Arlington Partners LLC boosted its position in Square by 200.0% in the first quarter. Arlington Partners LLC now owns 234 shares of the technology company’s stock valued at $32,000 after buying an additional 156 shares in the last quarter. Finally, Consolidated Planning Corp bought a new stake in Square during the third quarter worth about $36,000. Hedge funds and other institutional investors own 66.31% of the company’s stock.

Square Company Profile (Get Rating)

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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