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Which Way Did Square Go in July?

Adam Rogers - Author
By

Aug. 18 2020, Updated 4:44 a.m. ET

Square’s rising shares

Square (SQ) stock rose 12.3% in July 2017 to close the month at $26.35. Shares of the firm have been on an upward spiral for the past 12 months.

The stock has generated returns of 162% in the trailing-12-month period and 93% since the start of calendar 2017. Square is now trading 167% above its 52-week low of $9.85 and 5.8% below its 52-week high of $27.97.

Square has an analyst median target estimate of $24, indicating that the stock is trading at a premium of 9%.

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Expansion of products and service portfolio

Square started as a firm that provided an affordable payment platform for small businesses. Over the past few quarters, Square has expanded its product portfolio and now provides working capital loans via Square Capital as well as services in employee management and payroll domain.

Square faces competition from mobile payment heavyweights such as Apple Pay (AAPL) and PayPal (PYPL) in the United States (SPY).

Revenue expected to rise in fiscal 2017

Analysts expect Square to post revenues of $536.27 million in 3Q17, which would mean a rise of 22.3% YoY (year-over-year). Analysts also estimate Square’s revenues to rise 28.1% YoY in 4Q17 to $562.32 million and 25.6% YoY to nearly $2.2 billion in 2017.

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