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Fly News Breaks for November 7, 2019
FISV, SQ
Nov 7, 2019 | 08:26 EDT
Evercore ISI analyst Rayna Kumar keeps an Underperform rating on Square (SQ) shares and lowered her price target on the stock to $37 from $50 after the company disappointed with 2020 guidance that was well-below her forecast and Street consensus. The miss was driven by plans to increase investments in sales and marketing in the Seller business, which Kumar notes continues to face increasing competition, especially from Fiserv's (FISV) Clover. Kumar continues to believe Square's long-term adjusted EBITDA margin target of 35-40% remains "unachievable," the analyst added.
News For SQ;FISV From the Last 2 Days
SQ
Mar 27, 2024 | 06:23 EDT
KeyBanc raised the firm's price target on Block to $95 from $80 and keeps an Overweight rating on the shares after it surveyed 100-plus SMBs in March 2024 who indicated a deceleration in IT spend growth in 2024.The firm cites a healthy market share lead among respondents using POS software and "consideration for SQ as a CRM tool."