66.50 -0.47 (-0.70%)
Pre-Market: 8:00AM EDT
|Bid||66.35 x 1000|
|Ask||66.80 x 2900|
|Day's Range||65.50 - 67.28|
|52 Week Range||24.22 - 69.40|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 31, 2018 - Aug 6, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||59.48|
LONDON, UK / ACCESSWIRE / July 12, 2018 / If you want a free Stock Review on SNAP sign up now at www.wallstequities.com/registration. WallStEquities.com redirects investors' attention to the Internet Software and Services industry, which includes companies that develop and market Internet software or provide Internet services such as online databases and interactive services, Web address registration services, database construction, and Internet design services. In this morning's lineup are these four stocks: Net Element Inc. (NASDAQ: NETE), SINA Corp. (NASDAQ: SINA), Snap Inc. (NYSE: SNAP), and Square Inc. (NYSE: SQ).
Square seems to be immune from bitcoin's moves as its mobile payment app grew despite a drop in demand for cryptocurrency, according to analysis from Nomura Instinet. "Square is more than just a bitcoin play," says Dan Dolev, executive director and analyst at Nomura Instinet. Square Cash, which launched crypto trading in late January, is growing roughly three times faster than Paypal's Venmo, with nearly 2 million downloads per month, according to Nomura.
Investors worried that the growth of Square’s (SQ) Cash wallet app might be tied too closely to cybercurrency may have reason to relax. In a Wednesday note, the analysts at Nomura Instinet—Square bulls who recently suggested that the Cash App could be worth $20 per share by itself—pointed to recently Cash download numbers they say run counter to declining bitcoin prices. “The spike in bitcoin prices in late 2017 helps explain the surge in Cash App growth from +129% in 3Q17 to +181% by 4Q17.
Here are some things going on today in the world of tech: Shares of Tesla (TSLA) are up $6.70, or 2%, to $325.21, after Bloomberg’s Alex Webb this morning reported that the company is in preliminary talks to build a factory in Shanghai to produce more cars than it currently makes in the U.S., without citing any sources. Tesla’s Fremont, Calif., plant has so far this year made only 88,000 cars, notes Webb, but the plant in China would supposedly make as many as half a million per year. The story came as Chief Executive Elon Musk is in China for meetings this week.
Square’s (SQ) money transfer service Cash App has expanded a great deal since it launched, initially going by the name Square Cash. At the end of 2017, there were more than 7 million monthly active Cash App users. In a recent interview with Quartz, Square’s CFO Sarah Friar discussed the future shape of finance and went on to say that Square is effectively creating a bank account of the future with its Cash App.
NEW YORK, NY / ACCESSWIRE / July 6, 2018 / Square shares closed higher on Thursday as Wall Street learned that the company has withdrawn its regulatory application to open a deposit-taking bank. A spokeswoman for the company had said that Square plans to resubmit it at a later date. Shares of PayPal also closed higher after it was revealed that the company has closed on its sale of consumer credit receivables with Synchrony.
Payments processor Square has withdrawn its application for a banking license, a report said Thursday. The San Francisco-based firm told the American Banker that it may refile its application to the Federal Deposit Insurance Corp.
Bitcoin fell 3 percent on Thursday afternoon, along with prices of other cryptocurrencies. Bitcoin bull Tom Lee, the only Wall Street analyst with a price target on it, said he sees bitcoin's price at $20,000 by the end of the year, though that is $5,000 below his earlier forecast. Square took back its FDIC application for an industrial loan license to amend and strengthen it, according to a report in American Banker.
Square, Inc. will release financial results for the second quarter of 2018 on August 1, 2018, after market close. Square will also host a conference call and earnings webcast at 2:00 p.m.
Three business that offer practical investment opportunities whether cryptocurrencies form a speculative bubble again or not.
Don't wade into the murky waters of penny stocks. Instead, consider the clear path that Osisko Gold Royalties, Cirrus Logic, and Square are forging.
Optimism about growth over the next several years has led to a new price target for Square (SQ) shares that’s one of Wall Street’s highest. “Business sounds good to us,” the analysts wrote. The analysts revisited their target in part due to the company’s $365 million April acquisition of website building company Weebly.