Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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Well Positioned To Capitalize On Industry Trends
Analyst Bryan Keane noted that the company has delivered 40–50 percent year-over-year growth in GPV and 50–65 percent growth in adjusted revenues since its IPO. The analyst believes the company is well positioned to capitalize on the many positive trends in the industry, including the growth in micro and small business, electronic payments and the industry move toward integrated solutions.
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Street Estimates May Prove Conservative
The fact that the company owns its own platform, according to Deutsche Bank, can help it to gain and retain clients better than its peers. Deutsche Bank believes the company's current fourth quarter guidance and the consensus estimates for 2017 and 2018 could prove conservative.
Raising Rating, Price Target
As such, the firm raised the rating on the company's shares to Buy from Hold and lifted its price target to $17 from $13. The firm is of the view that Square's current valuation of just 3.5 times its calendar year EV/adjusted sales is inappropriate and instead feels a 5 times EV/adjusted sales on calendar year 2018 estimates is appropriate.
At the time of writing, Square was trading up 3.07 percent at $13.10.
Image Credit: By Mybloodtypeiscoffee (Own work) [CC BY 4.0], via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.