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Fly News Breaks for June 28, 2018
GDOT, SQ
Jun 28, 2018 | 09:35 EDT
SunTrust analyst Andrew Jeffrey raised his price target on Square (SQ) to $66 from $45, saying the company is "bending the Payments ecosystem rules and behaviors" by deeply embedding itself in the daily operations of small and medium businesses. Jeffrey adds however that while Square Cash can produce monetization well above consensus expectations, he remains cautious that the stock can sustain its "through-the-cycle valuation", as its FY19 expected EBITDA multiple is at 58-times his forecast, which is well above the competitor GreenDot's (GDOT) 14-times. Jeffrey is keeping his Hold rating on Square, urging investors to consider GreenDot's value proposition instead.
News For SQ;GDOT 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."