Market Overview

Why Square's Stock Is Trading Higher Today

Share:
Why Square's Stock Is Trading Higher Today

Square (NYSE: SQ) shares are trading higher after Credit Suisse maintained an Outperform rating on the stock and raised its price target from $170 to $175.

“Square should continue to see ARPU upside from an improving mix of Cash App customers, i.e., increasing attach rates of Cash Card, direct deposit adoption (off of a low base of less than ~2mm direct deposit users today), and a steady cadence of new features (e.g., Square Payroll direct deposit instantly into Cash App launched in September in addition to beta testing a consumer lending product),” said Credit Suisse in a note.

Founded in 2009, Square provides payment acquiring services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network.

Square was trading 2.1% higher at $161.04 on Monday. The stock has a 52-week high of $170.61 and a 52-week low of $32.33.

Latest Ratings for SQ

DateFirmActionFromTo
Oct 2020JefferiesMaintainsHold
Oct 2020RBC CapitalMaintainsOutperform
Oct 2020SusquehannaMaintainsPositive

View More Analyst Ratings for SQ
View the Latest Analyst Ratings

 

Related Articles (SQ)

View Comments and Join the Discussion!

Posted-In: why it's movingPrice Target Analyst Ratings

Latest Ratings

StockFirmActionPT
INTCJP MorganMaintains70.0
STMCanaccord GenuityMaintains47.0
ELDeutsche BankMaintains248.0
UAADeutsche BankMaintains13.0
INTCDeutsche BankMaintains55.0
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 vipaccounts@benzinga.com