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MarketScreener Homepage  >  Equities  >  Nyse  >  Square, Inc.    SQ

SQUARE, INC.

(SQ)
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Square Shares Jump More Than 10% in After-Hours Trade

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08/04/2020 | 08:49pm EDT

By Kimberly Chin

 

Square Inc. shares rose more than 10% after hours to $151.80 after the company said usage of its Cash App and Cash Card increased as consumer spending picked up following the easing of coronavirus-lockdown measures.

Shares of the mobile-payments company closed at an all-time high of $136.83 on Tuesday after it said second-quarter sales jumped 64% to $1.92 billion from a year ago.

Gross profit from Square's Cash App nearly tripled as more customers increased spending using the ecosystem to make transactions.

In June, the San Francisco, Calif.-based company had 30 million monthly transacting active customers on Cash App and more than 7 million active customers using its Cash Card for spending, it said.

Square said customers are increasingly adopting other products after their first month of activating Cash App, including the Cash Card, direct deposit and bitcoin investing.

"We remain focused on helping Cash App customers access our broader ecosystem of financial tools, including Cash Card," the company said in a letter to investors.

Shares of Square have more than doubled this year as consumers and sellers adapt to digital and contactless commerce during the coronavirus pandemic.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO 1.98% 9368.42 Real-time Quote.41.90%
BITCOIN - UNITED STATES DOLLAR 2.01% 10899.14 Real-time Quote.47.61%
SQUARE, INC. 3.55% 157.72 Delayed Quote.152.11%
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Financials (USD)
Sales 2020 7 457 M - -
Net income 2020 -165 M - -
Net cash 2020 1 202 M - -
P/E ratio 2020 -415x
Yield 2020 -
Capitalization 69 954 M 69 954 M -
EV / Sales 2020 9,22x
EV / Sales 2021 7,39x
Nbr of Employees 3 835
Free-Float 82,1%
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Technical analysis trends SQUARE, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 42
Average target price 150,77 $
Last Close Price 157,72 $
Spread / Highest target 42,7%
Spread / Average Target -4,41%
Spread / Lowest Target -72,1%
EPS Revisions
Managers
NameTitle
Jack Dorsey Chairman, President & Chief Executive Officer
Amrita Ahuja Chief Financial Officer & Treasurer
Jim McKelvey Independent Director
Lawrence Henry Summers Independent Director
David Alan Viniar Lead Independent Director
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