Square (SQ) Stock: $221 Price Target From BofA

By Amit Chowdhry ● Nov 30, 2021
  • The shares of Square Inc (NYSE: SQ) have received a $221 price target from BofA. These are the details.

The shares of Square Inc (NYSE: SQ) have received a $221 price target from BofA. And BofA analyst Jason Kupferberg upgraded Square to a “Neutral” rating from an “Underperform” rating while increasing the price target from $210.

Kupferberg noted that the deceleration risk of the company’s Cash App business has been more appropriately priced in as the company is now trading 25% below August highs and 15% since reporting a third-quarter earnings miss earlier this month. And Kupferberg pointed out that he hesitates to take a more constructive stance on the company until there is better visibility on the near-term and medium-term trajectory of the gross profit on the Cash App.

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