Square Stock Pops, Price Target Hiked On FANG-Like Disruption [Investor's Business Daily]
Meta Platforms, Inc. - Class A (FB)
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Source: Investors Business Daily
Related news Square ( SQ ) stock popped Tuesday as one analyst hiked his price target on the digital payments processor — on views that it will disrupt markets in a way similar to FANG stocks. Instinet Nomura analyst Dan Dolev hiked his Square stock price target to 125 from 86. Dolev compared Square to the FANG stocks — Facebook ( FB ), Amazon.com ( AMZN ), Netflix ( NFLX ) and Alphabet 's ( GOOGL ) Google. Facebook, Netflix and Alphabet are moving into a new index classification . "Similar to FANG stocks that have disrupted traditional markets with massive global total addressable markets, Square's fully cohesive solutions and rapid rate of innovation suggest that it is en route to disrupt the global payments ecosystem," Dolev said in a note to clients. "But is Square too expensive?" he added. "Not when taking into account its stellar 45% expected three-year revenue compound annual growth rate, which makes it screen more attractively than many payment peers and FANG stocks." Shares
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