|Bid||57.60 x 1100|
|Ask||57.65 x 900|
|Day's range||56.92 - 59.14|
|52-week range||49.82 - 101.15|
|Beta (3Y monthly)||3.11|
|PE ratio (TTM)||N/A|
|Earnings date||5 Nov 2019 - 11 Nov 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||81.76|
Jim Cramer thinks that Square stock is worth owning. The stock has upside potential. According to Cramer, investors should buy the stock when it falls.
The Terminal is Square’s third hardware product launched in the UK and does not need to be linked to a smartphone or tablet to function.
Square (SQ) stock has remained highly volatile this year. The company's troubles started in October 2018 when CFO Sarah Friar decided to leave the company.
Digital payments space heats up with growing proliferation of instant and same-day deposit services being offered by JPMorgan Chase, Square, PayPal and others.
(Bloomberg) -- Jack Dorsey’s Square Inc. already lets customers buy and sell Bitcoin on its popular Cash App. Soon, it may let them buy and sell stocks. Square is testing out a new Cash App feature that would enable users to make free stock trades, according to a video outlining the product’s features seen by Bloomberg. While the exact date of its launch is yet to be determined, employees began testing the new feature in recent weeks, according to a person familiar with the company who asked not to be identified discussing private matters.A spokesman for Square declined to comment.The free stock trading feature would position Square as a direct competitor to fintech startup Robinhood Markets Inc., which has gained millions of customers by offering no-fee trading, and most recently garnered a valuation of $7.6 billion. Robinhood has since expanded into other offerings such as options trading and margin trading, which would not be offered in Square’s initial product, the person said. Eventually, Square’s new service and others like it could pose a challenge to more established online brokers, like E*Trade Financial Corp.“We are seeing the cadence of free trading increase and I do think that’s something the broader industry can’t dismiss,” said Devin Ryan, an analyst with JMP Securities. “As a result, the pricing in those areas will continue to move lower.”Cash App and other peer to peer payment platforms are known for having a young customer base, similar to Robinhood. If Robinhood is any indication of the interest in free trading, Square could quickly gain a lot of traction. Prior to Robinhood's launch, it had a waitlist of 1 million people. Near the end of 2018, it said it had more than 6 million users, though it's unclear how many of them are active on the platform.Square’s Cash App started out by letting users send money to friends, and has since expanded into debit cards and Bitcoin trading. While Square doesn't consistently give updates on how many people are using Cash App, the company said it had more than 15 million monthly active users as of last December. Though there isn’t an immediate path to profitability for most free financial products, the race to add more users to platforms like Cash App has been fierce, with other businesses like PayPal Holdings Inc.’s Venmo also seeing big growth.Right now, fintech companies offering such products largely make money on the interchange fees when customers use their debit cards or on fees they charge for transferring funds to banks instantly. In its most recent letter to shareholders, Square said that revenue from Cash App was $135 million for the quarter, excluding Bitcoin. In a note published earlier this month, KeyBanc analyst Josh Beck said revenue from Cash App could reach $2 billion over the next three years. (Updates with analyst quote in fifth paragraph.)To contact the author of this story: Julie Verhage in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Anne VanderMey at email@example.com, Mark MilianTom GilesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Stripe Inc. became one of the most valuable financial-technology startups by helping businesses accept online payments. Now it’s getting into lending.The San Francisco-based company launched Stripe Capital on Thursday. The service will start in the U.S. and will make loans to businesses that are already Stripe customers, as well as merchants selling on services like Shopify that use Stripe to process payments. Stripe will use the data it has on customers to help determine loan eligibility and terms. The first target market will be smaller businesses that use Stripe, rather than larger customers, such as Amazon.com Inc., that already have access to cash.Stripe Capital will start out by focusing on loans of about $10,000 to $20,000, according to Stripe Co-Founder John Collison. Much like Jack Dorsey’s payments firm Square Inc., which has its own lending service called Square Capital, Stripe has access to a wide swath of data on its customers. “We can constantly be looking at the businesses on Stripe, their cash flow, how they are growing, and who can be productively underwritten for a loan,’’ Collison said.Tech companies have become an increasingly popular lending source in recent years. After the 2008 financial crisis, traditional banks pulled back on small business loans, prompting many companies to look elsewhere for capital. Almost a third of loan applicants turned to online lenders in 2018, up from 24% in 2017 and 19% in 2016, according to a Federal Reserve survey.As the industry has become more digital, PayPal Holdings Inc., Square and even Amazon have introduced small business lending programs, as have a slew of startups including SoftBank Group Corp.-backed Kabbage Inc. and public company OnDeck Capital Inc.Though lending poses risks, Stripe, much like other payment services, says the extra data it has on customers will give it a better idea of whether borrowers can repay loans. The company believes that edge will protect it from significant losses during an economic downturn.“Lending is fundamentally a business that performs very differently based on where we are in the business cycle,” Collison said. “We’re doing as much as we can at the current point with models based on data that we can get from business performance and how small businesses performed in the financial crisis.’’ He added that the product was built with the possibility of an economic shock in mind, and that the company plans to be “appropriately cautious.’’To contact the author of this story: Julie Verhage in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Anne VanderMey at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.