Needham & Company Starts Square (SQ) at Buy

Needham & Company initiates coverage on Square (NYSE: SQ) with a Buy rating and a price target of $17.00.

Analyst Mayank Tandon commented, "We are initiating coverage of Square, the leading provider of payment processing and business software solutions to small and mid-market merchants, with a BUY rating and a $17 PT. We believe SQ, by virtue of its strong brand and cohesive payment and business software platform that addresses the major challenges small merchants face to start, run, and manage their businesses, is well positioned to capture a significant piece of a large market opportunity. We see potential for strong multi-year growth and improved EBITDA profitability as the business scales. We view SQ as a good fit for SMID growth portfolios seeking exposure to a high-growth asset leveraged to the secular trends in payments."

For an analyst ratings summary and ratings history on Square click here. For more ratings news on Square click here.

Shares of Square closed at $13.83 yesterday.

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