Square (NYSE:SQ) PT Lowered to $170.00 at Moffett Nathanson

Square (NYSE:SQGet Rating) had its price target reduced by analysts at Moffett Nathanson from $200.00 to $170.00 in a note issued to investors on Friday, The Fly reports. Moffett Nathanson’s price target would suggest a potential upside of 89.20% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Susquehanna Bancshares dropped their target price on Square from $240.00 to $160.00 in a research report on Tuesday, April 26th. The Goldman Sachs Group began coverage on Square in a research report on Wednesday, March 30th. They set a “buy” rating and a $173.00 target price on the stock. Canaccord Genuity Group dropped their target price on Square from $310.00 to $210.00 in a research report on Friday, February 25th. Needham & Company LLC dropped their target price on Square from $315.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Finally, Daiwa Capital Markets began coverage on Square in a research report on Thursday, February 17th. They set a “buy” rating and a $160.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Square currently has an average rating of “Buy” and a consensus price target of $200.33.

Shares of SQ traded down $5.70 during midday trading on Friday, reaching $89.85. 401,261 shares of the company were exchanged, compared to its average volume of 13,223,746. The stock has a 50-day moving average price of $119.61 and a 200-day moving average price of $153.75. The company has a market cap of $52.12 billion, a price-to-earnings ratio of 289.68 and a beta of 2.38. Square has a 1-year low of $82.72 and a 1-year high of $289.23. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 1.38.

Square (NYSE:SQGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.14 billion. Square had a return on equity of 10.08% and a net margin of 0.94%. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. Equities research analysts anticipate that Square will post -0.17 earnings per share for the current year.

In related news, CFO Amrita Ahuja sold 3,814 shares of the stock in a transaction dated Monday, May 2nd. The shares were 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 $15,723,492.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian Grassadonia sold 5,051 shares of the stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $141.79, for a total transaction of $716,181.29. Following the completion of the sale, the insider now owns 128,744 shares of the company’s stock, valued at approximately $18,254,611.76. The disclosure for this sale can be found here. Insiders have sold 19,783 shares of company stock valued at $2,459,562 over the last 90 days. Corporate insiders own 15.12% of the company’s stock.

A number of large investors have recently bought and sold shares of SQ. Franklin Resources Inc. increased its holdings in shares of Square by 0.4% during the third quarter. Franklin Resources Inc. now owns 2,105,201 shares of the technology company’s stock worth $504,910,000 after buying an additional 8,938 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Square by 47.2% during the third quarter. Synovus Financial Corp now owns 5,716 shares of the technology company’s stock worth $1,360,000 after buying an additional 1,832 shares in the last quarter. Ieq Capital LLC increased its holdings in shares of Square by 43.7% during the third quarter. Ieq Capital LLC now owns 30,865 shares of the technology company’s stock worth $7,403,000 after buying an additional 9,385 shares in the last quarter. Equitable Holdings Inc. increased its holdings in shares of Square by 5.0% during the third quarter. Equitable Holdings Inc. now owns 30,462 shares of the technology company’s stock worth $7,306,000 after buying an additional 1,448 shares in the last quarter. Finally, Makena Capital Management LLC grew its stake in shares of Square by 11.2% during the third quarter. Makena Capital Management LLC now owns 48,143 shares of the technology company’s stock valued at $11,547,000 after purchasing an additional 4,855 shares during the last quarter. 54.56% of the stock is owned by hedge funds and other institutional investors.

About Square (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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