Square stock rises after Instinet says new product 'kills several birds with one stone' [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 says new product 'kills several birds with one stone' Instinet analyst Dan Dolev penned an upbeat note on Square Inc.'s SQ, +5.53% new business debit card, writing that the product "taps the multi-trillion underpenetrated [business-to-business] commerce market, of which just 4% is carded." He sees a $50 billion gross-payment-volume opportunity for Square stemming from the new card, including as the company "reinforces" the Square ecosystem by incentivizing customers to shop at other Square merchants and as the company finds new ways to get paid from existing gross payment volume. "Although we believe the near-term revenue opportunity from Square Card is modest, the rise in B2B card penetration, and the fortification of the ecosystem from driving seller engagement, are significant long-term positives," wrote Dolev, who upped his target price to $110 from $108 in a Thursday note. Dolev argued that the new product "kills several birds with one stone"
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- Block, Inc. (NYSE: SQ) had its "buy" rating re-affirmed by analysts at Mizuho. They now have a $99.00 price target on the stock.MarketBeat
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- Block, Inc. (NYSE: SQ) had its "in-line" rating re-affirmed by analysts at Evercore ISI. They now have a $75.00 price target on the stock.MarketBeat
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SQ
Earnings
- 2/22/24 - Beat
SQ
Sec Filings
- 3/15/24 - Form 4
- 3/13/24 - Form 144
- 3/6/24 - Form 4
- SQ's page on the SEC website