As previously reported, Craig-Hallum analyst Bradley Berning upgraded Square to Hold from Sell as the stock has now factored in decelerating revenues from increased competition and the push to drive margins that has come at the expense of seller transaction growth. Seller margin expansion was used to fund CashApp growth and drive adjusted EBITDA margins that resulted in decelerating revenue growth in transaction volumes, he notes. The analyst also points out that consensus expectations for 2020 and 2021 have moved closer to his expectations over the past couple months. Berning also raised hos price target on the shares to $63 from $55.