JPMorgan Chase & Co. Trims Square (NYSE:SQ) Target Price to $57.00

Square (NYSE:SQ) had its target price decreased by JPMorgan Chase & Co. from $86.00 to $57.00 in a research report report published on Wednesday, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other analysts have also recently weighed in on SQ. Nomura upgraded shares of Square from a reduce rating to a neutral rating and set a $49.00 target price for the company in a report on Wednesday. BTIG Research upgraded shares of Square from a sell rating to a neutral rating in a report on Wednesday, March 18th. ValuEngine lowered shares of Square from a buy rating to a hold rating in a research note on Tuesday, February 4th. UBS Group decreased their price objective on shares of Square from $88.00 to $54.00 and set a buy rating for the company in a research note on Friday, March 20th. Finally, Compass Point started coverage on shares of Square in a research note on Thursday, December 5th. They issued a neutral rating and a $70.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $66.72.

Shares of NYSE:SQ traded down $2.69 during trading hours on Wednesday, hitting $53.34. The stock had a trading volume of 14,639,396 shares, compared to its average volume of 20,598,302. The stock’s fifty day simple moving average is $69.23 and its 200 day simple moving average is $65.86. Square has a 1-year low of $32.33 and a 1-year high of $87.25. The firm has a market capitalization of $24.39 billion, a price-to-earnings ratio of 68.39, a PEG ratio of 109.38 and a beta of 2.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.90 and a current ratio of 1.90.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, February 26th. The technology company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. Square had a net margin of 7.97% and a return on equity of 6.57%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.19 billion.

In other Square news, insider Jacqueline D. Reses sold 5,596 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $70.98, for a total value of $397,204.08. Following the completion of the sale, the insider now owns 229,652 shares of the company’s stock, valued at $16,300,698.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alyssa Henry sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.17, for a total value of $1,403,400.00. Following the completion of the sale, the insider now directly owns 415,604 shares of the company’s stock, valued at approximately $29,162,932.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,316 shares of company stock worth $7,064,905. Company insiders own 21.79% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Voya Investment Management LLC lifted its stake in Square by 1.1% in the third quarter. Voya Investment Management LLC now owns 93,323 shares of the technology company’s stock worth $5,781,000 after acquiring an additional 1,057 shares during the period. Executive Wealth Management LLC boosted its position in Square by 2.7% in the third quarter. Executive Wealth Management LLC now owns 22,701 shares of the technology company’s stock worth $1,406,000 after purchasing an additional 591 shares during the last quarter. J.P. Marvel Investment Advisors LLC purchased a new position in Square in the third quarter worth about $2,723,000. Ausdal Financial Partners Inc. purchased a new position in Square in the third quarter worth about $285,000. Finally, Stifel Financial Corp boosted its position in Square by 27.2% in the third quarter. Stifel Financial Corp now owns 157,765 shares of the technology company’s stock worth $9,748,000 after purchasing an additional 33,709 shares during the last quarter. 58.59% of the stock is owned by institutional investors and hedge funds.

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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