Incredible Growth Shows Investors It's Hip to Be Square Capital
Since Square (NYSE: SQ) reported its second-quarter earnings, its share price has basically stagnated, largely trading sideways the past month. Of course, this should be taken in the context of Square's past year, during which its stock price rocketed up more than 100%. Despite a tepid market reaction to the quarter, there was plenty for shareholders with a long-term focus to like about the company's results.
Square reported adjusted revenue of $240 million, a 41% increase year over year, and adjusted EBITDA of $36 million, an increase of $24 million from the prior year period. Square's take rate once again showed remarkable buoyancy despite a higher percentage of larger businesses as clients, primarily due to Square's subscription and services-based revenue. This category -- largely driven by Square Capital, Instant Deposit, and Caviar -- increased an amazing 99% year over year to $59 million. Yet out of all these lucrative platforms, it was Square Capital that the company's management most wanted to highlight.
Source: Fool.com
Square Inc. Stock
Our community is currently high on Square Inc. with 5 Buy predictions and 0 Sell predictions.
With a target price of 87 € there is a positive potential of 45.15% for Square Inc. compared to the current price of 59.94 €.
