Square blew past analysts' expectations for third-quarter earnings, sending the stock up double digits on Friday.
Despite the stock's run-up this year and "rather elevated investor expectations," the company managed to "beat by a mile," says Moffett Nathanson's Lisa Ellis. The Square Cash app was a key driver of the strong results, and of analysts' enthusiasm. The payments and banking app more than tripled its gross profits from a year ago, and made up almost half of the company's total gross profit of $794 million.
The results were a hit among multiple Wall Street analysts who recommended the stock to clients on Friday. Citi, Cannacord Genuity, Needham, Mizuho and Susquehanna upgraded price targets on Square after the break-out quarter. In a note to clients, Citi analyst Peter Christiansen called Square's growth opportunity "too big to ignore."
He’s a towel head in waiting
he could have shared some profit with $twtr.. my huge 10 stocks would have been happy
Who is that turd in the picture?
The liberal media is covering up the single-most brazen attempt at stealing an election in our nation's history.