Square (NYSE:SQ) PT Lowered to $110.00 at Morgan Stanley

Square (NYSE:SQGet Rating) had its price target cut by stock analysts at Morgan Stanley from $118.00 to $110.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price suggests a potential upside of 27.98% from the stock’s current price.

Several other research analysts have also weighed in on the stock. Susquehanna Bancshares decreased their price objective on shares of Square from $240.00 to $160.00 in a report on Tuesday, April 26th. Robert W. Baird reissued an “outperform” rating and set a $120.00 price objective on shares of Square in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Square from $200.00 to $192.00 and set an “overweight” rating for the company in a report on Friday, February 25th. Moffett Nathanson decreased their price objective on shares of Square from $200.00 to $170.00 in a report on Friday, May 6th. Finally, Wolfe Research reissued a “buy” rating and set a $170.00 price objective on shares of Square in a report on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $193.72.

SQ traded up $3.89 during trading hours on Thursday, reaching $85.95. 409,852 shares of the stock traded hands, compared to its average volume of 20,797,404. The firm’s fifty day simple moving average is $114.10 and its two-hundred day simple moving average is $142.78. The company has a market cap of $49.86 billion, a price-to-earnings ratio of -572.96 and a beta of 2.38. Square has a fifty-two week low of $65.10 and a fifty-two week high of $289.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.97 and a quick ratio of 1.97.

Square (NYSE:SQGet Rating) last released its quarterly earnings results on Thursday, May 5th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.14 billion. Square had a negative net margin of 0.46% and a positive return on equity of 0.74%. Square’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. On average, research analysts predict that Square will post -0.7 earnings per share for the current year.

In other Square news, CFO Amrita Ahuja sold 2,680 shares of the stock in a transaction on Monday, April 4th. The shares were sold at an average price of $141.79, for a total transaction of $379,997.20. Following the transaction, the chief financial officer now directly owns 121,461 shares of the company’s stock, valued at $17,221,955.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alyssa Henry sold 30,770 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $80.86, for a total transaction of $2,488,062.20. Following the transaction, the insider now directly owns 433,436 shares in the company, valued at $35,047,634.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,553 shares of company stock valued at $4,947,624. 15.12% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of SQ. Ibex Wealth Advisors acquired a new position in Square during the third quarter worth $25,000. Bell Investment Advisors Inc acquired a new position in Square during the third quarter worth $30,000. Arlington Partners LLC grew its position in shares of 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 purchasing an additional 156 shares during the last quarter. Consolidated Planning Corp acquired a new stake in shares of Square in the third quarter valued at about $36,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Square in the fourth quarter valued at about $36,000. 54.56% of the stock is currently owned by hedge funds and other institutional investors.

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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