The Ratings Game: Square stock tumbles on fears easy growth is in the past [MarketWatch]
Block, Inc. Class A, (SQ)
Last block, inc. class a, earnings: 2/26 04:05 pm
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Source: MarketWatch
Square stock tumbles on fears easy growth is in the past Square Inc. was a bright spot in 2018, with its shares climbing more than 60% amid a down year for the overall market. But one analyst is betting that the party is now over. Raymond James analyst John Davis cut his rating on Square shares SQ, -9.41% to underperform from market perform on Tuesday, writing that he doesn’t see any clear growth drivers on the horizon like the company’s Instant Deposit product, which boosted the company’s fast-growing subscription-and-services business last year. “Revenue upside [is] likely to prove more difficult,” Davis said. He argued that Square’s organic growth may have peaked in the third quarter, and he expects that the company’s services segment will “meaningfully decelerate” in the year ahead once the company starts lapping its acquisitions of Weebly and Zesty, two slower-growing businesses. Read: Zelle posts another big quarter of growth as banks take on Venmo, Square Cash Square share
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- 4/4/24 - Form 4
- 4/4/24 - Form 4
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