Square Stock – Square (NYSE:SQ) price Target Raised to $290.00
Square (NYSE:SQ) had its price objective boosted by equities research analysts at Credit Suisse Group from $270.00 to $290.00 in a research report issued on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Credit Suisse Group’s price target suggests a potential upside of 10.34% from the stock’s previous close.
A number of other equities research analysts have also issued reports on SQ. Deutsche Bank Aktiengesellschaft lifted their target price on Square from $255.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 17th. KeyCorp boosted their price objective on shares of Square from $250.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, January 15th. Wells Fargo & Company downgraded shares of Square from an “overweight” rating to an “equal weight” rating and set a $255.00 target price for the company. in a research report on Wednesday, February 24th. They noted that the move was a valuation call. Guggenheim upgraded shares of Square from a “neutral” rating to a “buy” rating and set a $288.00 price objective for the company in a research note on Wednesday, March 3rd. Finally, The Goldman Sachs Group lifted their target price on Square from $216.00 to $246.00 and gave the company a “neutral” rating in a research report on Tuesday, March 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Square currently has a consensus rating of “Hold” and an average price target of $224.57.
SQ stock traded up $4.46 during mid-day trading on Friday, hitting $262.83. 423,598 shares of the company were exchanged, compared to its average volume of 10,829,478. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 1.70. Square has a 1-year low of $56.12 and a 1-year high of $283.19. The firm’s 50 day simple moving average is $233.92 and its 200 day simple moving average is $212.58. The firm has a market cap of $119.49 billion, a P/E ratio of 410.12, a P/E/G ratio of 29.50 and a beta of 2.71.
Square (NYSE:SQ) last issued its quarterly earnings data on Tuesday, February 23rd. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.11 billion. Square had a net margin of 4.05% and a negative return on equity of 0.01%. The firm’s quarterly revenue was up 139.6% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. On average, equities research analysts predict that Square will post -0.03 EPS for the current fiscal year.
In other Square news, Director James Morgan Jr. Mckelvey sold 200,000 shares of the business’s stock in a transaction on Tuesday, January 19th. The shares were sold at an average price of $225.72, for a total transaction of $45,144,000.00. Following the sale, the director now owns 202,683 shares of the company’s stock, valued at $45,749,606.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jack Dorsey sold 100,000 shares of the company’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $229.87, for a total transaction of $22,987,000.00. The disclosure for this sale can be found here. Insiders sold 1,252,254 shares of company stock worth $288,304,821 over the last ninety days. 21.79% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Jennison Associates LLC grew its stake in shares of Square by 33,045.6% in the fourth quarter. Jennison Associates LLC now owns 8,594,646 shares of the technology company’s stock worth $1,870,539,000 after purchasing an additional 8,568,716 shares during the last quarter. Norges Bank bought a new stake in shares of Square in the 4th quarter valued at about $597,618,000. Northern Trust Corp increased its stake in shares of Square by 4.8% in the fourth quarter. Northern Trust Corp now owns 2,482,612 shares of the technology company’s stock valued at $540,316,000 after buying an additional 112,857 shares during the period. Winslow Capital Management LLC raised its position in shares of Square by 231.5% during the fourth quarter. Winslow Capital Management LLC now owns 1,646,297 shares of the technology company’s stock worth $358,300,000 after acquiring an additional 1,149,672 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Square by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 1,394,205 shares of the technology company’s stock worth $303,435,000 after acquiring an additional 19,458 shares during the period. 64.01% of the stock is currently owned by hedge funds and other institutional investors.
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.
Recommended Story: Do stock splits help investors?
7 Entertainment Stocks That Are Still Delighting Investors
2020 has created a real-life movie script that many production companies could have only dreamed of. But that dream has been a nightmare for many of the world’s leading entertainment stocks. Movie theaters and live entertainment venues remain shut down. The words “pent-up demand” have never resonated more. Consumers are desperate for ways to be entertained.
That may make it an odd time to consider looking at entertainment stocks. But that would be a mistake. In fact, some entertainment stocks have been among the biggest pandemic winners. This is a trend that is likely to continue as the holidays arrive. The phrase “home for the holidays” is likely to have a new meaning this year. That means consumers will still be looking for ways to be entertained. And now is the time for you to prepare your portfolio for that move.
To be clear, the novel coronavirus was not due to poor management from any company. And you can bet that in the future, many companies will leave some room in their balance sheet for future “acts of God.” But in the meantime, some entertainment stocks have been pandemic winners. And that means they will likely continue to be winners as long as the pandemic lingers.
View the “7 Entertainment Stocks That Are Still Delighting Investors”.
Square Stock – Square (NYSE:SQ) price Target Raised to $290.00