Macquarie analyst Gus Papageorgiou initiated Square with an Outperform rating and a price target of $94 as part of his broader research note on payment technology providers titled "Turning Millenials into Capitalists". The analyst cites the company's ease of sign-ups along with its strong annual revenue growth of 52% in the past 3 years. Papageorgiou also expects that growth to continue with more merchants adopting Square's payments solution, boosting its overall payment volume while adding more services such as Capital, Instant Deposit, and Cash App.