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SQ

Square

$61.84

-1.04 (-1.65%)

, PYPL

PayPal

$109.08

-0.14 (-0.13%)

09:08
09/03/19
09/03
09:08
09/03/19
09:08

Atlantic Equities starts Square with Underweight rating, $55 price target

Atlantic Equities analyst Kunaal Malde initiated coverage of Square (SQ) with an Underweight rating and $55 price target. The shares closed Friday at $61.84. Square's core business is decelerating and the mix shift to consumer payments increases uncertainty, Malde tells investors in a research note. The company's core merchant acquiring yields are too high versus peers that are increasingly competing with combined hardware/software platforms, adds the analyst. Further, he points out that PayPal's (PYPL) Venmo is regaining ground on Square's Cash App. Malde this morning also initiated coverage of FIS (FIS) with an Overweight rating as well as Fiserv (FISV) and Jack Henry (JKHY) with Neutral ratings.

SQ

Square

$61.84

-1.04 (-1.65%)

PYPL

PayPal

$109.08

-0.14 (-0.13%)

FIS

FIS

$136.24

-1.01 (-0.74%)

FISV

Fiserv

$106.94

-0.62 (-0.58%)

JKHY

Jack Henry

$145.00

-0.09 (-0.06%)

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SQ Square
$61.84

-1.04 (-1.65%)

09/03/19
RHCO
09/03/19
UPGRADE
Target $80
RHCO
Buy
Square upgraded to Buy from Hold at SunTrust
SunTrust analyst Andrew Jeffrey upgraded Square to Buy and raised his price target to $80 from $75, saying he expects the company's 2020 investments in "complex retail and restaurants" to accelerate the growth of its future revenues and EBITDA. The analyst believes that the investments will bolster the company's capabilities with large, inventory-intensive retailers where Square is currently less competitive, adding that its sale of Caviar also marked the first step in its "repositioning". While he still sees 2020 as an "investment year", Jeffrey notes that his expectations of revenue growth at Square beyond next year underpin his upgrade.
09/03/19
MOFT
09/03/19
UPGRADE
MOFT
Buy
Square upgraded to Buy from Neutral at MoffettNathanson
09/03/19
RHCO
09/03/19
UPGRADE
RHCO
Buy
Square upgraded to Buy from Hold at SunTrust
09/03/19
ATLE
09/03/19
INITIATION
Target $55
ATLE
Underweight
Square initiated with an Underweight at Atlantic Equities
Atlantic Equities started Square with an Underweight rating and $55 price target.
PYPL PayPal
$109.08

-0.14 (-0.13%)

08/20/19
NOMU
08/20/19
NO CHANGE
Target $100
NOMU
Buy
Square Cash App had highest monthly downloads ever in July, says Nomura Instinet
Nomura Instinet analyst Dan Dolev said Square's (SQ) Cash App saw its highest monthly download volume ever in July with 2.4M downloads, pushing the download gap between the app and PayPal's (PYPL) Venmo to an all-time high. Total Cash App downloads have reached 59.8M in August-to-date, versus 52.7M for Venmo, noted Dolev, who keeps a Buy rating and $100 price target on Square shares.
08/19/19
RSBL
08/19/19
INITIATION
RSBL
Buy
PayPal initiated with a Buy at Rosenblatt
Rosenblatt analyst Ken Hill initiated PayPal with a Buy rating.
08/20/19
RSBL
08/20/19
INITIATION
Target $126
RSBL
Buy
Rosenblatt starts PayPal at Buy with $126 price target
As previously reported, Rosenblatt analyst Ken Hill initiated PayPal with a Buy rating and $126 price target, citing his view that the company is a "steady and strong grower," trading at a reasonable price. He believes the longer-term outlook for PayPal "looks as healthy as ever" despite the slight downward revision in revenue expectations announced with Q2 earnings and also likes the complementary opportunities on both the merchant and consumer sides of the business, Hill tells investors.
08/20/19
08/20/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Immunomedics (IMMU) initiated with an Overweight at Cantor Fitzgerald. 2. PayPal (PYPL) initiated with a Buy at Rosenblatt while Square (SQ) was initiated with a Neutral. 3. Sunrun (RUN), Vivint Solar (VSLR), and Sunnova Energy (NOVA) initiated with an Overweight at KeyBanc. 4. Spotify (SPOT) initiated with an Equal Weight at Consumer Edge. 5. Silk Road Medical (SILK) initiated with a Buy at Argus. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
FIS FIS
$136.24

-1.01 (-0.74%)

08/07/19
WEDB
08/07/19
NO CHANGE
Target $150
WEDB
Outperform
FIS price target raised to $150 from $140 at Wedbush
Wedbush analyst Moshe Katri raised his price target for FIS to $150 from $140 post "strong" standalone results as well as earlier than anticipated revenue/cost synergy targets. The analyst reiterates an Outperform rating on the shares.
07/31/19
BREN
07/31/19
INITIATION
Target $171
BREN
Buy
FIS initiated with a Buy at Berenberg
Berenberg analyst Tej Sthankiya initiated FIS (FIS) with a Buy rating and a price target of $171, saying its acquisition of Worldpay (WP) "propels" the company into the payment market at scale and boosts its organic growth rate to 6% from 4% "immediately". The analyst expects the cross-selling e-commerce and loyalty payments from the deal to boost the stock further.
09/03/19
ATLE
09/03/19
INITIATION
Target $175
ATLE
Overweight
FIS initiated with an Overweight at Atlantic Equities
Atlantic Equities analyst Kunaal Malde initiated FIS (FIS) with an Overweight with an Overweight recommendation, stating that an accelerating growth profile and "compelling" synergies from its deal to acquire Worldpay make it his preferred stock in the U.S. Payment Services group following the deal-making in the space. While he believes cost synergies and revenue opportunities should support mid-teens EPS growth for Fiserv (FISV) as well following its deal for First Data, Malde prefers FIS, which he thinks has more compelling revenue synergy opportunities and a slightly higher EPS growth profile in the medium-term. He set a $175 price target on FIS shares.
09/03/19
ATLE
09/03/19
INITIATION
Target $175
ATLE
Overweight
FIS initiated with an Overweight at Atlantic Equities
Atlantic Equities started FIS with an Overweight rating and $175 price target.
FISV Fiserv
$106.94

-0.62 (-0.58%)

09/03/19
ATLE
09/03/19
INITIATION
Target $131
ATLE
Neutral
Fiserv initiated with a Neutral at Atlantic Equities
Atlantic Equities started Fiserv with a Neutral rating and $131 price target.
08/29/19
08/29/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Jabil (JBL) double upgraded to Buy from Sell at Citi with analyst Jim Suva saying the company's customer concentration risk has played out. 2. HP Enterprise (HPE) upgraded to Buy from Hold at Argus with analyst Jim Kelleher saying the company is facing "top-line challenges" but its positive earnings comparisons imply an "improving" sales mix. 3. Fiserv (FISV) upgraded to Buy from Neutral at Citi with analyst Ashwin Shirvaikar saying Fiserv acquired an attractive asset in First Data and the stock of the combined company offers a good idea in a volatile market. 4. NextGen Healthcare (NXGN) upgraded to Sector Weight from Underweight at KeyBanc with analyst Donald Hooker saying he believes the compact is having success re-accelerating its organic revenue growth rates into the low-single digits. 5. Tallgrass Energy (TGE) upgraded to Neutral from Underperform at BofA/Merrill analyst Dennis Coleman citing the disclosure of a take-private proposal from Blackstone Infrastructure Partners earlier this week. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/03/19
ATLE
09/03/19
INITIATION
Target $131
ATLE
Neutral
Fiserv initiated with a Neutral at Atlantic Equities
Atlantic Equities analyst Kunaal Malde initiated Fiserv (FISV) with a Neutral rating, stating that he believes cost synergies and revenue opportunities should support mid-teens EPS growth following its deal for First Data. However, Malde prefers FIS (FIS), which he started at Overweight, given he thinks it has more compelling revenue synergy opportunities and a slightly higher EPS growth profile in the medium-term. He set a $131 price target on Fiserv shares.
JKHY Jack Henry
$145.00

-0.09 (-0.06%)

04/08/19
KBWI
04/08/19
INITIATION
Target $145
KBWI
Market Perform
Jack Henry initiated with a Market Perform at Keefe Bruyette
Keefe Bruyette analyst Vasundhara Govil started Jack Henry & Associates with a Market Perform rating and $145 price target.
09/03/19
ATLE
09/03/19
INITIATION
Target $147
ATLE
Neutral
Jack Henry initiated with a Neutral at Atlantic Equities
Atlantic Equities started Jack Henry with a Neutral rating and $147 price target.
09/03/19
ATLE
09/03/19
INITIATION
Target $147
ATLE
Neutral
Jack Henry initiated with a Neutral at Atlantic Equities
Atlantic Equities analyst Kunaal Malde initiated coverage of Jack Henry & Associates with a Neutral rating and $147 price target. The company is a consistent share gainer in Bank Tech but this trend is well understood by investors, Malde tells investors in a research note. Jack Henry's valuation is much higher than peers relative to the company's earnings growth and its smaller bank customer base is under secular pressure, adds the analyst.
05/24/19
SPHN
05/24/19
NO CHANGE
SPHN
Global Payments, TSYS tie-up would likely be highly accretive, says Stephens
Stephens analyst Brett Huff noted that Bloomberg reports that Global Payments (GPN) and TSYS (TSS) have held talks about a potential merger, joint venture and/or partnerships. While he has previously thought that Global Payments had the luxury of "waiting and seeing" if combining consumer funding account with a merchant POS experience, such as the Fiserv (FISV)-First Data (FDC) and FIS (FIS)-Worldpay (WP) deals will do, would yield enough strategic value, he suspects a sooner deal might be driven by the companies' desire to not just achieve larger scale but also achieve that scale with high-quality assets. Huff said he thinks any deal would likely be highly accretive given overlaps and both companies' track record for realizing cost synergies and he also sees limited antitrust concern. Huff also thinks a Global Payments-TSYS combination would increase the chances that assets such as ACI Worldwide (ACIW), Bottomline Technologies (EPAY), Jack Henry (JKHY), USA Technologies (USAT) and Q2 Holdings (QTWO) would likely be bought.

TODAY'S FREE FLY STORIES

C

Citi

$70.08

0.61 (0.88%)

, FIS

FIS

$132.88

-1.54 (-1.15%)

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C

Citi

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0.61 (0.88%)

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GS

Goldman Sachs

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MS

Morgan Stanley

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0.16 (0.36%)

NDAQ

Nasdaq

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TROW

T. Rowe Price

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UBS

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$11.44

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STX

Seagate

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$DJT

DJ Transportation Average

$0.00

(0.00%)

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BAX

Baxter

$87.48

-0.135 (-0.15%)

, HRC

Hill-Rom

$104.08

0.46 (0.44%)

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$87.48

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HRC

Hill-Rom

$104.08

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$DJU

DJ Utility Average

$0.00

(0.00%)

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

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IYT

iShares Transportation Average

$190.85

-2.3 (-1.19%)

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XLK

Technology Select Sector SPDR

$81.29

0.04 (0.05%)

08:23
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XLE

Energy Select Sector SPDR

$61.94

-0.26 (-0.42%)

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XLY

Consumer Discretionary Sector SPDR

$122.53

-0.06 (-0.05%)

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VZ

Verizon

$59.91

0.05 (0.08%)

08:23
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XLB

S&P Select Materials SPDR

$58.67

0.04 (0.07%)

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XLU

Utilities SPDR

$63.83

0.28 (0.44%)

08:22
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XLP

Consumer Staples Sector SPDR

$60.84

0.03 (0.05%)

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GPN

Global Payments

$164.32

0.43 (0.26%)

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XLV

Health Care Select Sector SPDR

$91.46

0.02 (0.02%)

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IWM

iShares Trust Russell 2000 Index Fund

$156.51

-0.94 (-0.60%)

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DIA

Diamonds Fund ETF

$271.97

0.42 (0.15%)

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SPY

SPDR S&P 500 ETF Trust

$301.10

0.16 (0.05%)

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GIS

General Mills

$54.51

-0.52 (-0.94%)

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XLF

Financial Select Sector

$28.53

0.13 (0.46%)

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SMH

Market Vectors Semiconductor

$121.67

0.09 (0.07%)

08:20
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