Market Overview

Evercore ISI Upgrades Square On Cash App Prospects

Evercore ISI Upgrades Square On Cash App Prospects

Square Inc (NYSE: SQ) Is poised to benefit from the potential for Cash App to sustain “extraordinary growth” through rapid innovation and expansion of its total addressable market, according to Evercore ISI.

The Square Analyst: Rayna Kumar upgraded Square's stock rating from In Line to Outperform, while raising the price target from $161 to $300.

The Square Thesis: The company’s Cash App business is likely to generated adjusted revenue growth at a compounded annual rate of 36% for the next three years and significantly beat the current consensus estimates through 2022, Kumar said.

“Over time, Cash App could become a one stop, disruptive, digital payments bank. With P2P, digital wallet, debit card, stock trading, and Bitcoin purchasing capabilities already in place, and, with its banking license, consumer and SMB lending potential, we believe Cash App’s network will continue to grow aggressively with expanded paths to monetization over time,” the analyst wrote in a note.

Driven by Cash App, Square could “grow total adjusted EBITDA by 53% annually, on average, over the next three years,” he added.

SQ Price Action: Shares of Square were trading up 2.8% to $207.86 at the time of publication Thursday.

Latest Ratings for SQ

Jan 2021KeyBancMaintainsOverweight
Jan 2021Evercore ISI GroupMaintainsOutperform
Dec 2020BairdInitiates Coverage OnNeutral

View More Analyst Ratings for SQ
View the Latest Analyst Ratings


Related Articles (SQ)

View Comments and Join the Discussion!

Posted-In: Cash App Evercore ISI Rayna KumarAnalyst Color Upgrades Price Target Analyst Ratings Best of Benzinga

Latest Ratings

REALMorgan StanleyMaintains17.0
PRUMorgan StanleyMaintains87.0
PRIMorgan StanleyMaintains155.0
ATISeaport GlobalInitiates Coverage On25.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at