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Fly News Breaks for June 3, 2019
SQ
Jun 3, 2019 | 06:31 EDT
The Cash App is shaping up to be key driver of growth for Square, as monetization of the "rapidly-expanding" peer-to-peer service gains traction, Barclays analyst Ramsey El-Assal tells investors in a research note. The analyst believes Cash App will drive upside to Square revenue estimates over time as user engagement increases, and platform growth expands. He raised his fiscal 2019 through 2021 estimates after an analysis of the app and keeps an Overweight rating on Square with a $96 price target.
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