Square Cash app downloads accelerating even as bitcoin loses steam, Instinet says [MarketWatch]
Block, Inc. Class A, (SQ)
Last block, inc. class a, earnings: 2/26 04:05 pm
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Source: MarketWatch
Square Cash app downloads accelerating even as bitcoin loses steam, Instinet says Instinet analyst Dan Dolev reiterated his upbeat stance on Square Inc. SQ, +0.45% on Wednesday, given his latest look at Square Cash app downloads. Dolev said that downloads of Cash, Square's peer-to-peer money transfer app, accelerated in May and June. That acceleration is notable given that bitcoin BTCUSD, -0.24% has witnessed a sharp price decline in recent months, and Square Cash also enables users to buy and sell bitcoin, Dolev wrote. As such, he concluded that Square is not a bitcoin play and contrasted the app's continued momentum with a decline in Coinbase app downloads. Dolev's $82 price target makes him the most bullish analyst on the stock who's tracked by FactSet. Square shares are down 0.6% in premarket trading but up 155% over the past 12 months, while the S&P 500 SPX, -0.47% has gained 15%.
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SQ
Earnings
- 2/22/24 - Beat
SQ
Sec Filings
- 4/15/24 - Form 8-K
- 4/4/24 - Form 4
- 4/4/24 - Form 4
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