Financial services and digital payments company Square, Inc. (SQ) recently announced the launch of its integrated and omnichannel business solutions in France. The move comes after the completion of its successful Early Access Programme.
Following the news, shares of the company appreciated marginally on Tuesday. The stock, however, pared its gains slightly to close at $249.38 in extended trade.
With access to Square’s services, French businesses will be able to seamlessly process their transactions and become more efficient and customer friendly.
The European Executive Director at Square, Jason Lalor, said, “We are thrilled to expand Square’s solutions into France, helping merchants to run their entire business end-to-end with integrated software, hardware, and data analytics, while making it easier for them to take card payments. French businesses can trust Square to be a fair, transparent, and innovative partner they can rely on to help them run their business and get back-on-track after times of uncertainty.” (See Square stock chart on TipRanks)
Recently, Evercore ISI analyst David Togut reiterated a Buy rating on the stock with a price target of $371, which implies upside potential of 47.6% from current levels.
The Wall Street community is cautiously optimistic about the stock and has a Moderate Buy consensus rating based on 17 Buys, 4 Holds and 1 Sell. The average Square price target of $314.05 implies that the stock has upside potential of 25% from current levels.
Square scores a 9 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained about 61.5% over the past year.