Square stock rises after Instinet boosts target [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 rises after Instinet boosts target Shares of Square Inc. SQ, +2.74% are up 1.8% in premarket trading Tuesday after Instinet analyst Dan Dolev raised his price target to $86 from $82. Dolev is upbeat about Square's peer-to-peer Cash app, which he said now has more cumulative downloads than PayPal Holdings Inc.'s PYPL, -0.40% Venmo. Through his analysis of downloads, he estimates the Square Cash is growing three times faster than Venmo. Dolev said that Square is also having success monetizing the Cash app. "We estimate that the Cash App's 11 million to 12 million active users could drive $30 million to $40 million or 2% to 3% of adjusted net revenue in 2018, primarily via collecting unregulated debit interchange and instant deposit fees, with revenues potentially growing to $100 million by 2020," he wrote. Square's stock is up 187% over the past 12 months, while the S&P 500 SPX, +0.37% has gained 14%. Have breaking news sent to your inbox. Subscribe to MarketWatch
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News
- Block (SQ) Stock Falls Amid Market Uptick: What Investors Need to Know [Yahoo! Finance]Yahoo! Finance
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- Jack Dorsey's Block Finishes Development of Bitcoin Mining Chip [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Crown Point woman faces felony fraud charges for business theft allegations [Yahoo! Finance]Yahoo! Finance
- 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