Square (SQ): New Buy Recommendation for This Technology Giant

Needham analyst Mayank Tandon reiterated a Buy rating on Square (SQ) today and set a price target of $310.00. The company’s shares closed last Thursday at $223.96.

According to TipRanks.com, Tandon is a 5-star analyst with an average return of 22.5% and a 63.1% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Duck Creek Technologies, and Bottomline Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Square with a $284.97 average price target, implying a 21.2% upside from current levels. In a report issued on May 5, KeyBanc also maintained a Buy rating on the stock with a $300.00 price target.

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Based on Square’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.16 billion and net profit of $294 million. In comparison, last year the company earned revenue of $1.31 billion and had a net profit of $391 million.

Based on the recent corporate insider activity of 151 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SQ in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2009, California-based Square, Inc. provides credit card payment processing solutions. The company’s commerce ecosystem offers point-of-sale software and hardware that helps sellers with payment and point-of-sale solutions.

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