Why Square Inc's Shares Popped 12% in July
Shares of payment processor Square Inc (NYSE: SQ) jumped 12.3% in July, according to data provided by S&P Global Market Intelligence, after an analyst suggested the company could be a buyout target.
Analyst Joseph Vafi at Loop Capital Markets sent Square's stock into a frenzy on July 12 after suggesting PayPal Holdings Inc (NASDAQ: PYPL) should buy its smaller rival. The idea would be to combine two of the largest payment processors into one and merge the two biggest money sharing apps, Venmo and Square Cash.
Image source: Square.
Source: Fool.com
Paypal Holdings Inc Stock
€51.08
-1.540%
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As a result the target price of 55 € shows a slightly positive potential of 7.67% compared to the current price of 51.08 € for Paypal Holdings Inc.
