JPMorgan Chase & Co. Boosts Square (NYSE:SQ) Price Target to $320.00

Square (NYSE:SQ) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $300.00 to $320.00 in a research report issued on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.’s price target points to a potential upside of 23.24% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Square from $281.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, August 3rd. Morgan Stanley increased their price target on Square from $245.00 to $254.00 and gave the company an “equal weight” rating in a report on Friday, May 7th. DA Davidson started coverage on Square in a report on Wednesday, June 23rd. They set a “buy” rating and a $275.00 price target on the stock. Credit Suisse Group increased their price target on Square from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, May 7th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $261.80 target price (down from $317.00) on shares of Square in a report on Monday, July 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-nine have issued a buy rating to the stock. Square has a consensus rating of “Buy” and a consensus price target of $267.85.

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Shares of SQ opened at $259.66 on Tuesday. The company’s fifty day simple moving average is $249.23. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.77. Square has a 12 month low of $134.00 and a 12 month high of $289.23. The stock has a market cap of $119.37 billion, a P/E ratio of 227.77, a price-to-earnings-growth ratio of 10.79 and a beta of 2.41.

Square (NYSE:SQ) last issued its earnings results on Saturday, July 31st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.31 by $0.35. The business had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $5.05 billion. Square had a return on equity of 16.94% and a net margin of 3.60%. The company’s revenue was up 143.3% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. Equities analysts expect that Square will post 0.79 earnings per share for the current fiscal year.

In other news, CFO Amrita Ahuja sold 3,432 shares of Square stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $221.46, for a total transaction of $760,050.72. Following the completion of the sale, the chief financial officer now owns 158,243 shares of the company’s stock, valued at $35,044,494.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of Square stock in a transaction that occurred on Wednesday, July 7th. The shares were sold at an average price of $250.00, for a total transaction of $125,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 488,818 shares of company stock valued at $116,098,339. 15.12% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC raised its stake in Square by 308.0% in the second quarter. Hexagon Capital Partners LLC now owns 102 shares of the technology company’s stock worth $25,000 after buying an additional 77 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Square in the second quarter worth approximately $28,000. Wagner Wealth Management LLC bought a new position in Square in the first quarter worth approximately $30,000. Loomis Sayles & Co. L P grew its holdings in Square by 178.4% in the first quarter. Loomis Sayles & Co. L P now owns 142 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the last quarter. Finally, TCI Wealth Advisors Inc. grew its holdings in Square by 41.9% in the first quarter. TCI Wealth Advisors Inc. now owns 149 shares of the technology company’s stock worth $34,000 after purchasing an additional 44 shares during the last quarter. 56.77% of the stock is owned by institutional investors.

About Square

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庐 chip cards and Near Field Communication payments; Chip card reader, which accepts EMV庐 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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