- KeyBanc Capital Markets analyst Josh Beck raises his price target for Overweight-rated Square (NYSE:SQ) to $300 from $275, as he sees its Cash App benefiting from increased engagement, ARPU, and users.
- Compares with average price target of $270.
- KeyBanc's consumer survey "indicates swelling interest in investing (high-30s% opened up a new investment account recently) and crypto (20%+ invest in crypto with ~80% opening up an account recently).
- Expects increased engagement on Cash App as half of those surveyed had a Cash App account.
- SA contributor Damien Robbins calls Square the right combination of fintech and crypto.