Needham Reaffirms Their Buy Rating on Square (SQ)


Needham analyst Mayank Tandon reiterated a Buy rating on Square (SQ) today and set a price target of $190.00. The company’s shares closed last Wednesday at $146.89.

According to TipRanks.com, Tandon is a 5-star analyst with an average return of 20.4% and a 66.0% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Bottomline Technologies, and Sapiens International.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Square with a $106.91 average price target, representing a -30.2% downside. In a report issued on July 21, KeyBanc also maintained a Buy rating on the stock with a $140.00 price target.

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Square’s market cap is currently $60.12B and has a P/E ratio of 209.20. The company has a Price to Book ratio of 41.56.

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Square, Inc. engages in the provision of credit card payment processing solutions. It is a cohesive commerce ecosystem that helps sellers start, run, and grow their businesses. The firms sellers downloads the Square Point of Sale mobile app, they can quickly and easily take their first payment, typically within minutes. Its system, sellers gain access to features such as next-day settlements, digital receipts, payment dispute management, data security, and Payment Card Industry compliance. The firm offers additional point-of-sale services, financial services, and marketing services. The company was founded by Jack Dorsey and Jim McKelvey in February 2009 and is headquartered in San Francisco, CA.

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