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Square stock gains after Instinet boosts target to $125, compares it to the FANGs
Shares of Square Inc. are up 2.3% in premarket trading Tuesday after Instinet analyst Dan Dolev raised his price target on the stock to $125 from $86. The $125 target is the highest listed on FactSet. Square shares closed Monday at $86.04. "Similar to FANG stocks [Facebook, Amazon, Netflix and Google] that have disrupted traditional markets with massive global total addressable markets, Square's fully cohesive solutions and rapid rate of innovation suggest that it is en route to disrupt the global payments ecosystem," Dolev wrote. He said that the company is making "significant progress" in its move to gain more volume from larger sellers. Dolev also thinks the company's rising net transaction profit has been a "key surprise" in recent quarters even as Square moves upmarket. The stock has gained 213% over the past 12 months, as the S&P 500 has climbed 17%.
https://finance.yahoo.com/m/64e3e0b...65143/square-stock-gains-after.html?.tsrc=rss
Shares of Square Inc. are up 2.3% in premarket trading Tuesday after Instinet analyst Dan Dolev raised his price target on the stock to $125 from $86. The $125 target is the highest listed on FactSet. Square shares closed Monday at $86.04. "Similar to FANG stocks [Facebook, Amazon, Netflix and Google] that have disrupted traditional markets with massive global total addressable markets, Square's fully cohesive solutions and rapid rate of innovation suggest that it is en route to disrupt the global payments ecosystem," Dolev wrote. He said that the company is making "significant progress" in its move to gain more volume from larger sellers. Dolev also thinks the company's rising net transaction profit has been a "key surprise" in recent quarters even as Square moves upmarket. The stock has gained 213% over the past 12 months, as the S&P 500 has climbed 17%.
https://finance.yahoo.com/m/64e3e0b...65143/square-stock-gains-after.html?.tsrc=rss
