Deutsche Bank analysts led by Brian Keane believe another round of government stimulus will boost Cash Apps' performance in 2021.
Tesla has paved the way for more corporations to head down the path to owning and accepting bitcoin, according to Wedbush. The firm says current bitcoin mania is not a “fad,” but the start of a new era of digital currency. PayPal, Square, Mastercard, and Visa could benefit from the […]
Shares of PayPal, Square, Mastercard, and Visa could benefit as more institutions adopt cryptocurrencies, Wedbush said.
Square’s crypto business could generate gross profits of $US1 billion if bitcoin soars to $US100,000, according to a Thursday note from Mizuho Securities. But even if bitcoin falls from its current record levels, user engagement with Square’s Cash App to buy and sell bitcoin should continue to boost profits for […]
Just one month after its $US50 million purchase of bitcoin, Square has pocketed $US34 million in paper profits as bitcoin surges to near all time highs. In October, Square purchased 4,709 bitcoins at an average price of $US10,618 as it built up its exposure to the cryptocurrency. Since then, bitcoin […]
Square released its second quarter earnings results on Tuesday, a day early, after Bloomberg News reported the numbers. The company reported a 64% jump in revenue and a 167% gain in gross profit on its Cash App, which competes with Venmo. Shares surged as much as 16% in intraday trading […]
Square stock jumped as much as 2.3% early Thursday after the digital payments company beat Wall Street’s estimates for third-quarter earnings and revenue. The company also adjusted its full-year revenue forecast higher, both with and without the impact of the $US410 million sale of its Caviar business to DoorDash. Square’s […]
Square on Wednesday reported better-than-expected third-quarter revenue and profits, but its fourth-quarter profits guidance disappointed. The mobile-payment provider posted adjusted earnings of $US0.13 a share on adjusted revenue of $US431 million, beating the $US0.11 and $US414 million that Wall Street analysts surveyed by Bloomberg were expecting. Looking ahead, Square says […]
Global financial markets are in the midst of a massive sell-off this week and tech stocks are among the worst hit. Payments companies like Square were leading the losses, despite impressive gains earlier this year. On Wednesday, the company announced its CFO was departing to become the CEO of Nextdoor. […]
Nomura increased its price target for Square to $US125 – a 45% premium to where shares closed Monday – saying its Cash App is more popular than Venmo. Analyst Dan Dolev says Square should be the the next to join the high-flying tech bundle known as FANG (Facebook, Amazon, Netflix, […]
Square has received an official New York State “bitlicense” to facilitate buying and selling of the cryptocurrency. Shares of the payments company rose about 1.3% following the announcement. The move is a “win-win” for Square, one analyst told Business Insider. Watch Square trade in real-time here. Shares of Square spiked […]
Payments app Square launched support for bitcoin in November. Now, CEO Jack Dorsey has doubled down on the company’s stance, saying the company “is not stopping at buying and selling” bitcoin. Square, the payments app helmed by Twitter CEO Jack Dorsey, is doubling down on its cryptocurrency bet. “Bitcoin, for […]
Shares of payment services company, Square, jumped on news that its Cash App will now allow some of its users to trade bitcoin on its platform. Square’s stock rose 3.08% at $US46.92 per share on Wednesday. The company’s CEO Jack Dorsey made the announcement on Twitter, saying the move was […]
Square is set to take off, according to Nomura analyst Dan Dolev. The company is rapidly expanding into new businesses and is growing its payments volume. Watch the price move in real time here. When Wall Street compares one of Jack Dorsey’s two public companies to Amazon and Google, you’d […]