Block Inc (SQ)

[NewMoney]

Square price target raised at Instinet based on large merchant opportunity


Square Inc.'s SQ, +2.22% price target was raised to $33 from $22 at Instinet Thursday, as the analysts said point-of-sale platform should be able to compete with the bigger players when it comes to products for larger merchants. Square is the "undisputed frontrunner" in the U.S. in small merchants, but the analysts say they view Square's services as attractive to large merchants because of its lower price point and included services such as loyalty, payroll and lending. The analysts expect Square to increase its number of large merchant customers, leading to a 33% increase in gross payment volume. By 2020, the analysts expect the adjusted revenue compound annual growth rate to be about 28%. Shares of Square were falling 1.2% in premarket trade. Square shares have gained 16% in the past month, compared to the S&P 500's SPX, -0.22% gain of 1.5%.

http://www.marketwatch.com/story/square-price-target-raised-at-instinet-based-on-large-merchant-opportunity-2017-06-15