Although Square Inc SQ stock has quadrupled over a 52-week period, Vios Advisors’ Michael Bapis told CNBC’s “Trading Nation” Thursday that he still sees upside in it.
Square fits perfectly in the technological transformation that is happening in society, Bapis said, adding that the company’s Cash App will continue to drive cash flow for the foreseeable future as the technological transition continues.
The company was able to adapt and grow during the COVID-19 pandemic, he said. Bapis attributes the success to the company’s quality management backed by a very high customer satisfaction rate.
What Happened: Coinbase reported first-quarter financial results after the close on Thursday. The company reported earnings of 17 cents per share, beating the estimate of 16 cents per share. It reported revenue of $5.06 billion, which easily topped the estimate of $3.33 billion.
Related Link: Square: Q1 Earnings Insights
Price Action: Square traded as high as $283.18 and as low as $65.21 over a 52-week period. At last check Friday morning, the stock was up 5.89% at $237.615.
Related Link: 3 Crypto Stocks With Clear Support Levels
(Photo courtesy of Square.)
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