Square (SQ) PT Raised to $46 at JPMorgan on 4Q Beat; 'Revenue Accelerates Again as New Products Scale'

JPMorgan raised its price target on Square (NYSE: SQ) to $46.00 (from $45.00) while maintaining a Overweight rating, following the company's fourth quarter earnings report.

Analyst Yirn-tsin Huan notes a positive outlook on the shares, as SQ reported fourth quarter earnings per share and revenues above consensus projections driven by "ongoing revenue acceleration" up 47% led by GPV growth, while management continues to grow the non-payments initiative.

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