Square, Inc. (SQ)
227.70 +0.81 (0.36%)
After hours: 4:06PM EST
Chart Events
Performance Outlook
| Previous Close | 237.32 |
| Open | 244.87 |
| Bid | 227.14 x 800 |
| Ask | 227.42 x 2900 |
| Day's Range | 223.67 - 245.84 |
| 52 Week Range | 32.33 - 283.19 |
| Volume | 15,334,423 |
| Avg. Volume | 9,638,336 |
| Market Cap | 103.148B |
| Beta (5Y Monthly) | 2.61 |
| PE Ratio (TTM) | 515.66 |
| EPS (TTM) | 0.44 |
| Earnings Date | May 06, 2021 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 264.05 |
Fair Value
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Square's Recent Weakness Is An Investor's Chance To Buy Stock, Says Analyst
A day after Square Inc (NYSE: SQ) reported its fourth-quarter results and announced the purchase of $170 million worth of Bitcoin (CRYPTO: BTC), an analyst at Guggenheim Securities upgraded the shares of the payment processor. The Square Analyst: Jeff Cantwell upgraded Square shares from Neutral to Buy, with a $288 price target, suggesting 21% upside potential from current levels. The Square Thesis: The weakness in Square shares seen over the past two days is largely a near-term momentum-driven reaction to the decline in the price of bitcoin this week, analyst Cantwell said in a Thursday morning note. This presents an opportunity for investors to buy the stock, especially as the company reported strong quarterly results and the management discussed many areas of emerging operational strength, the analyst said. This bodes well for the company's future, and places it on the path towards much greater levels of revenue, EBITDA and EPS generation in coming periods, he added. Related Link: Why Square Is A 'Need-To-Own' Stock For Years To Come Particularly, seller segment results continued to strengthen in the fourth quarter, thanks to the company's strategic initiatives in omnichannel/online and meaningful expansion upmarket with mid-market merchants, Cantwell said. View more earnings on SQ The outlook for the segment, the analyst said, looks increasingly positive, as small and medium businesses are showing confidence in a post-vaccine environment. The Cash App, according to the analyst, is in solid shape. It will likely continue to add revenues rapidly, driven by bitcoin and equity investing. Combining the two ecosystems increasingly sounds feasible and should create new synergies that will likely expand Square's top and bottom lines, the analyst said. Bitcoin, according to the analyst, is still in the early stages of a significant move higher, and this is positive for Cash App, as well as Square's balance sheet. Additionally, another round of stimulus will likely provide a boost to the company's two ecosystems, he said. SQ Price Action: After pulling back by about 14% over the past three sessions, Square shares were last seen rising 0.72% to $239.02 Thursday. Related Link: Analyzing Square's Unusual Options Activity (Photo: Square) Latest Ratings for SQ DateFirmActionFromTo Feb 2021Morgan StanleyMaintainsEqual-Weight Feb 2021GuggenheimUpgradesNeutralBuy Feb 2021Truist SecuritiesMaintainsBuy View More Analyst Ratings for SQ View the Latest Analyst Ratings See more from BenzingaClick here for options trades from BenzingaWhy Did Plug Power Shares Retreat?Why Merck Is Buying Autoimmune Disease Drug Company Pandion For .85B© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
