Stock Groups

Square Gets Outperform Rating from SMBC -Breaking

by Mike Robinson

[ad_1]

© Reuters.

Sam Boughedda

Investing.com — Square Inc (NYSE: stock got a boost Wednesday, after SMBC Nikko Securities analysts initiated coverage on the stock with an outperform rating.

Although the shares of this payment processor company rose to $252 at their highest on Wednesday, they lost momentum and are currently trading at $250.79. That’s up 0.72%.

Andrew Bauch, an analyst at SMBC Nikko Securities put a $300 target price on Square shares. 

According to the analyst, he believes that SQ’s increased focus on connecting Cash App and Seller ecosystems makes it one of the most transformative opportunities in FinTech. 

Bauch stated that Afterpay’s $29B purchase of Afterpay (a Buy Now and Pay Later provider) is one reason why they are bullish on the stock. 

We see the thesis becoming a reality much faster than we originally anticipated, and with increased revenue opportunities. Our YE-22 price Target (NYSE:). $300 is calculated on 21x our base case of $9.2B gross profit in 2023,” he said.

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]