Square stock gains after Instinet raises target on restaurant-business opportunities [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 gains after Instinet raises target on restaurant-business opportunities Shares of Square Inc. SQ, +1.34% 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.S. restaurant industry," Dolev wrote. "We see at least ~30% potential upside to adj. revenue over a three-year period, a combination of payment processing revenue and cross-selling of ancillary software and services." He said that while all merchant acquirers have restaurant exposure, Global Payments Inc. GPN, +0.05% seems "most at risk" to disruption by Square. Shares of Square are up 180% over the past 12 months, while the S&P 500 SPX, -0.15% has gained 14%.
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- Block, Inc. (NYSE: SQ) had its "positive" rating re-affirmed by analysts at Susquehanna. They now have a $100.00 price target on the stock.MarketBeat
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
- SQ's page on the SEC website