#6 - Square (NYSE:SQ)
Square (NYSE:SQ) is another top 50 Robinhood stock and it makes sense. Milleniall investors have grown up with financial technology (fintech). Many of these investors are embracing the gig economy and are the reason the words “side hustle” have gained in popularity. And if these investors are running a business, they are probably using Square to help them process payments.
Speaking of running a business, Square has made noticeable strides to provide additional small business tools that are allowing the company to compete with other fintech providers such as PayPal (NASDAQ:PYPL). One example is the company’s CashApp which is allowing for peer-to-peer payments and has been attracting analysts who are upgrading the stock.
Square also allows for bitcoin transactions. Right now bitcoin doesn’t amount to a significant portion of the company’s revenue. However, it’s another way that the company is on the leading edge of the growing fintech sector.
The company is also investing heavily into social justice initiatives which should keep the company top-of-mind for these investors.
Square stock is up 135% for the year.
About Block
Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.
Read More - Current Price
- $92.26
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $91.18 (1.2% Downside)
