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Square Bucks Market to Rise to Record High

Published 06/22/2020, 11:48 AM
Updated 06/22/2020, 05:04 PM
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By Christiana Sciaudone

Investing.com -- Mobile payments provider Square rose 6.4% to close at $104.22 Monday after analysts raised their price targets for the stock.

Square Inc (NYSE:SQ). outperformed the market, rising to a record $105.34 after Barclays (LON:BARC) raised its price target to $115 from $90. On June 16, Citigroup (NYSE:C) raised its target price for Square to $95 from $66. 

The S&P 500 and Dow Jones Industrial Average indexes were flat Monday as coronavirus cases rise worldwide, while the Nasdaq was slightly higher thanks to its tech-heavy composition.

Square has 15 buy-equivalent ratings, 18 holds and one sell, according to MarketWatch. On June 15, Square announced its purchase of Verse, a Spanish P2P payments app that allows customers to send and receive payments from friends and family free of charge.

 

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