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Square Stock Bounced On Pricing Structure

Square stock

Square (NASDAQ: SQ) stock bounced back sharply after the management announced a new pricing structure for instant transfers. Market analysts are showing confidence in the new pricing strategy.

The rating firms have also raised their price targets after a new pricing structure. The analysts and investors claim that charges related to instant transfer would boost its financial numbers in the coming quarters.

The square stock price jumped to $67 after the announcement. The stock was trading in the range of $60 over the past few months. SQ share price is still down from a 52-weeks high of $83. Fortunately, market analysts are seeing the upside momentum in the coming days.

SQ Square, Inc. daily Stock Chart

Analysts Raised Square Stock Target on Pricing Structure  

Square recently announced to charge a 1.5% transfer fee for instant and same-day transfers. Stephens upgraded Square shares to an Overweight from Equal-weight due to a better pricing setup. Its analyst Brett Huff said, “The price increase on merchant deposits adding to transaction net revenue and may result in lower churn benefits.”

In addition, Bernstein analyst Harshita Rawat expects the pricing change to create a big impact on financial numbers. The analyst expects a mobile payment company to experience a boost to margins in 2020.

Bank of America analyst Jason Kupferberg provided a Buy rating. The firm claims that the stock’s underperformance in 2019 offers an attractive buying opportunity point. BofA analyst Kupferberg said, “The expected benefits from investments being made in seller ecosystem this year, “which could enable re-acceleration in top-line metrics in late 2020/early 2021.”

Square Shares Could Cross $100 Mark in 2020

Some market analysts are more bullish over its future fundaments. For instance, Macquarie’s Dan Dolev expects Square stock price to breach the $100 level in the coming quarters. This is because of the potential growth in revenues. The company expects to generate fourth-quarter revenue in the range of $600 million while earnings per share are likely to stand around $0.20 per share.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.