- After-hours declines in Square (NYSE:SQ) are deepening, with the stock down 9.7% on postmarket volume that has crested 2.67M shares after news that CFO Sarah Friar is exiting to lead Nextdoor.
- That's "not great," says SunTrust analyst Andrew Jeffrey; Friar has been more influential at the company than even CEO Jack Dorsey, he writes.
- It will be tough to replicate Friar's ability to set investor expectations and her operational management, he says. He's advising investors to wait for a much more compelling entry point. (h/t Bloomberg)
- He maintains a Hold rating on the shares and a $66 price target; the stock dropped 10% to $77.45 today and are quoting at $69.94 after hours.