Dark pool activity was detected in SQ stock on January 9, 2020.
The dark pool activity looks like buying because of how SQ stock moved higher following the prints.
Stephens analyst Brett Huff upgraded Square (SQ) to Overweight from Equal Weight with a price target of $78, up from $71, as he expects the company to beat revenue expecations and meet EBITDA expectations when it reports Q4 results. He also sees the company issuing in-line FY20 guidance and believes margin expectations have already been reset while the market is underestimating pricing benefits. His upgrade came in tandem with his Payments preview for Q4 and Huff named PayPal (PYPL) and Global Payments (GPN) as the longs ideas he likes best now. He thinks PayPal’s holiday trends were robust and sentiment has become more positive while for Global Payments he expects upward estimate revisions and accretive M&A “soonest” among the “megadeal stocks” in the space.
BofA analyst Jason Kupferberg upgraded Square to Buy from Neutral with a $75 price target. Sentiment on the shares remains mixed following the significant underperformance in 2019, Kupferberg tells investors in a research note. However, there is “ample upside” to near-term estimates now that Square’s initial 2020 guidance has been provided, contends the analyst. He sees quarterly execution and Square’s March 18 analyst day are potential catalysts in for the stock in the first half of 2020.
In a post to its corporate blog, Square wrote: “Beginning on February 7, 2020, the rate for instant and same-day transfers from your Square balance to your bank account is changing to 1.5% per transfer. We’ve recently launched a variety of fast and free transfer options, so we felt the timing was right for this change…This change goes into effect today for all sellers new to instant transfers, and on February 7, 2020, for all existing instant transfer users.” Source: https://squareup.com/us/en/townsquare/new-fee-instant-transfer
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