|Bid||67.860 x 1000|
|Ask||67.910 x 900|
|Day's Range||66.270 - 69.400|
|52 Week Range||22.660 - 69.400|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 31, 2018 - Aug 6, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||54.29|
The latest instance was when I said something about the telephone poles by the side of the road. Digital research firm eMarketer estimates that mobile payment apps that don’t use a traditional financial institution — dubbed peer-to-peer payments systems — will process $120 billion in transactions this year, up 55% from the prior year. Last year, the New York Times ran a piece about the rise of mobile payments in Asia with the headline “In Urban China, Cash is Rapidly Becoming Obsolete” as estimates for these kinds of payments has hit a $5.5 trillion annual pace — 50 times that of the U.S.
Square’s (SQ) financial technology (or fintech) industry is becoming increasingly competitive. Kabbage, a US online lender for small businesses, is gearing up to venture into the payments processing business where it will take on Square and PayPal (PYPL) in their core businesses. As Kabbage eyes expansion into Square’s payments turf, British fintech startup Revolut is gearing up to challenge it in the broad area of banking services.
Square (SQ) generated investor returns of 19.8% in the trailing-one-month period and 172.6% in the trailing-12-month period. Its stock rose 4.4% in the trailing-five-day period.
Two Jack Dorsey companies, alike in their huge stock rallies, differ when it comes to recent short-selling sentiment. Square shares have gained 95% so far this year, while Twitter’s stock is up 92%. “The main difference I see is that Twitter short sellers are selling into the stock’s rally and increasing their short exposure substantially in June, while Square short sellers are buying to cover some of their short positions in order to stay around the $2 billion level,” said Ihor Dusaniwsky, the managing director of predictive analytics at S3 Partners.
MARKET PULSE Shares of Square Inc. (sq) are up 1.5% in premarket trading Thursday after Instinet's Dan Dolev raised his price target on the stock to $82 from $65. "The launch of Square for Restaurants marks Square's entry into the $650-700 billion U.
In the online food delivery business, Square’s Caviar is battling it out with big names such as Amazon (AMZN), Grubhub (GRUB), and Uber, which either have more experience in the business or have deeper pockets. Square exited the first quarter with $1.2 billion in cash compared to Amazon’s $16.7 billion cash holdings. Although Caviar may be an underdog in the online food delivery market, Square is starting to show that it didn’t make a mistake by acquiring the business or venturing into the food delivery market.
Square (SQ) has rolled out an option for Caviar drivers to receive their payments instantly through its Cash App. “It really economically empowers couriers, and we believe it changes how on-demand workers access their earnings,” the Verge quoted Caviar head Gokul Rajaram as saying about the option for drivers to receive instant payments.
Square (SQ) has launched a software platform for running all restaurant operations in an attempt that seems aimed at strengthening Caviar, its online food ordering and delivery business. Square for Restaurants, as the platform is called, is a cloud-based solution that offers a complete set of tools for running a restaurant business efficiently. The platform is integrated with Caviar to tie together in one place point-of-sale and food ordering functions.
Netflix and Square are extending big gains to hit new highs Wednesday. But if you have a position in one of these hot stocks, you might consider locking in some profits.
IBD Stock of the Day: PayPal stock muscled into the buy zone Wednesday. Acquisitions are giving the online payment giant scale against rivals such as Square, analysts said.
Cash App, Square's app for sending cash payments, now allows New York residents to buy and sell Bitcoin after the New York State Department of Financial Services granted the company a "bitlicense" on Monday. Cash App has allowed Bitcoin trading to users in select states since last year, but Square is just the ninth firm to be approved for a bitlicense by the restrictive New York DFS. “We are thrilled to now provide New Yorkers with Cash App’s quick and simple way to buy and sell bitcoin,” said Brian Grassadonia, Head of Cash App.
After recently closing the acquisition of website-builder Weebly and finalizing a debt offering, Square (SQ) now expects to post a larger loss in 2018 than it originally anticipated. In the first quarter, its reported loss per share was $0.06. Square raised its 2018 loss guidance to reflect the costs associated with the acquisition of Weebly as well as an increase in interest expense due to the recent debt offering.
In 2018, it pays to be on Jack Dorsey’s side. Square Inc. and Twitter Inc., which both count the tech titan as chief executive officer, are on the brink of boasting 100 percent gains this year. Square rose as much as 4.6 percent to $68.97 on Wednesday while Twitter gained more than 4 percent to $46.92.
Square’s (SQ) move to facilitate bitcoin buying and selling on its network was resisted by some company executives, and bitcoin remains a source of internal tension. At Twitter (TWTR), where he is also the CEO, Dorsey has largely given bitcoin and other cryptocurrency products a wide berth.
Square (SQ) has updated its 2018 revenue guidance to reflect the impact of the Weebly acquisition. Weebly is a website-builder that Square acquired last month for $365 million.
jumped 3.2% to $68.10 on Wednesday, June 20, after Rayna Kumar, an analyst with Evercore ISI, lifted the price target on the stock to $73 from $64. The boost followed a meeting with Square's chief financial officer, Sarah Friar, and two of the company's investor relations team members, Stacey Fineman and Nikhil Dixit. "Management emphasized Square's ability to win market share driven by its breadth of unique technology ... and a massive and growing addressable market," said Kumar in a note.
Inc. was sitting on a stake in the music-streaming startup worth more than $350 million, a sevenfold return on a 2012 investment. Goldman has those, too, but they are distinct from the portfolio maintained by its investment bankers, who are investing on the bank’s behalf. Inc. and payments company Square Inc. Recent investments include Ripple Foods, which makes milk from peas, and Marqeta Inc., a credit-card startup, the people said.
MARKET PULSE PayPal Holdings Inc. (pypl) shares are up 0.3% in premarket trading Wednesday after Wedbush analyst Moshe Katri said that the company's recently announced acquisition of Hyperwallet had strategic benefits.
PayPal (PYPL) is eliminating fees on euro transfers between friends and family for its customers in Ireland, the Irish Times reported on June 14. The aim of discontinuing these transfer fees on transactions between friends and family is aimed to encourage people to use its service instead of cash. In an April CNBC interview, Sri Shivananda, PayPal’s CTO, stated that cash is its main competitor.
Tesla tapped on the brakes amid a broad market decline. But the Nasdaq is cutting its losses. Netflix bucked the sell-off.
Square and Shopify are enabling their merchant customers to be more competitive, says KeyBanc Capital Markets, which hiked its price targets on both e-commerce companies.
Square’s market capitalization is about to overtake the combined value of financial stalwarts Nasdaq and Cboe, which operate some of the world’s most important exchange-trading platforms. The San Francisco-based firm’s share price has more than doubled in the past year, reaching a record high yesterday (June 18) after its payment app was approved for bitcoin…
Square Inc.'s peer-to-peer money-transfer app Square Cash could be worth $20 per share, according to an analysis from KeyBanc Capital Markets analyst Josh Beck. "We see the potential for $50 billion-plus of payment volume and $450 million of revenue out through 2022 that could create $20 per share of value," Beck wrote of Square Cash. Square shares gained 2.7% in Monday's session after the company said that it received a license to allow bitcoin trading on the Cash app in New York, which had been one of the few states holding out.
Investing.com - High-flying mobile payments company Square (NYSE:SQ) has received approval from New York regulators for its customers to trade bitcoin on its popular Cash app.Square started allowing customers to buy and sell the cryptocurrency on the app in January.Cryptocurrency trading on Cash is now legal in all U.S. states except Hawaii and Georgia. New York, however, was seen as a key market. Square says it generated $34 million in bitcoin-related revenue in the first quarter, but admitted its profit on the operation was tiny. Square's co-founder and CEO Jack Dorsey is a big supporter of cryptocurrencies, and has said Square is looking at using bitcoin in other company services.Dorsey also thinks bitcoin will become the single currency of the Internet within the next 10 years. Square's stock has almost tripled in the last year.