- The shares of Square Inc (NYSE: SQ) recently received a price target of $380 from Mizuho. These are the details.
The shares of Square Inc (NYSE: SQ) recently received a price target of $380 from Mizuho. And Mizuho analyst Dan Dolev reiterated a “Buy” rating on the company shares.
Dolev believes that the Square Cash App could be “en route to becoming the ultimate neo-bank and the money center bank of the future.” And this could make buying Square shares comparable to buying JPMorgan in 1871 wrote Dolev.
Dolev pointed out that potential Cash App products show a visible path for an average revenue per user of between $150-$200 — which is about 3-5 times above the current levels. And Dolev estimates that the U.S. bank account total addressable market is about 400-500 million accounts, which is over 10 times the size of the Cash App’s current active user base.
The Cash App’s gross profit could see 4-8 times growth over the coming years.
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