Needham & Company LLC Cuts Square (NYSE:SQ) Price Target to $80.00

Square (NYSE:SQ) had its price objective decreased by Needham & Company LLC from $90.00 to $80.00 in a research note published on Thursday, The Fly reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

A number of other analysts also recently weighed in on the stock. ValuEngine raised shares of Square from a hold rating to a buy rating in a research report on Friday, November 1st. Wedbush set a $75.00 target price on shares of Square and gave the company a hold rating in a research report on Tuesday, September 17th. UBS Group began coverage on shares of Square in a research report on Monday, October 14th. They set a buy rating and a $81.00 target price for the company. Morgan Stanley set a $74.00 target price on shares of Square and gave the company a hold rating in a research report on Thursday, August 29th. Finally, Bank of America set a $70.00 target price on shares of Square and gave the company a hold rating in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $72.82.

NYSE SQ traded down $1.96 during trading hours on Thursday, reaching $62.45. The company’s stock had a trading volume of 11,514,020 shares, compared to its average volume of 6,025,921. The firm has a fifty day simple moving average of $61.29 and a 200-day simple moving average of $66.91. The stock has a market cap of $26.08 billion, a P/E ratio of 3,122.50, a P/E/G ratio of 21.95 and a beta of 3.38. Square has a 52 week low of $49.82 and a 52 week high of $83.20. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49.

Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $602.00 million during the quarter, compared to analyst estimates of $596.85 million. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The firm’s quarterly revenue was up 39.7% on a year-over-year basis. During the same quarter last year, the business earned $0.13 EPS. On average, research analysts expect that Square will post 0.11 earnings per share for the current year.

In related news, insider Alyssa Henry sold 20,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $61.86, for a total value of $1,237,200.00. Following the transaction, the insider now directly owns 442,168 shares in the company, valued at approximately $27,352,512.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Ajmere Dale sold 2,048 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $62.47, for a total value of $127,938.56. Following the completion of the transaction, the chief accounting officer now owns 64,050 shares in the company, valued at $4,001,203.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,048 shares of company stock valued at $2,570,339. Insiders own 21.79% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Enterprise Trust & Investment Co bought a new position in Square during the 2nd quarter valued at $25,000. Larson Financial Group LLC lifted its stake in Square by 130.7% during the 2nd quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock valued at $27,000 after acquiring an additional 213 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Square by 78.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 512 shares of the technology company’s stock valued at $37,000 after acquiring an additional 225 shares in the last quarter. Atlantic Trust LLC lifted its stake in Square by 38.9% during the 2nd quarter. Atlantic Trust LLC now owns 521 shares of the technology company’s stock valued at $38,000 after acquiring an additional 146 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in Square by 62.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 538 shares of the technology company’s stock valued at $38,000 after acquiring an additional 207 shares in the last quarter. Institutional investors own 56.54% of the company’s stock.

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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