- Square (NYSE:SQ) gains 1.1% in premarket trading after KeyBanc's Josh Beck boosts his price target on the stock 53% to $115 from $75, making it the second-highest on Wall Street, according to Bloomberg.
- His old price target, though, was 23% under Square's closing price of $97.28 on Monday. Average analyst price target for Square stands at $77.72.
- Beck notes that sellers plan to increase the number of non-payment products they plan to adopt. According to a KeyBanc survey of 20 sellers, respondents on average expect to use 3.4 non-payment products, including such applications as invoices, loans, marketing, payroll, in the next year, up 106% from now.
- Also from the survey, about 70% of sellers didn't consider a competitor when choosing Square.
- Analyst ratings for Square:15 strong buys, 18 holds, 1 underperform, and 3 sells.
- Source: Bloomberg First Word.
- Previously: Square +2.3% after two bullish analyst reports (Sept. 25)
- Now read: Square: No Edge
Original article